The Minister of Industry and Mineral Resources, Bandar Alkhorayef, recently concluded an official visit to China, which included stops in Guangzhou and Hong Kong Special Administrative Region. During the visit, Alkhorayef discussed enhancing industrial and mining cooperation, knowledge transfers in the automotive industry, automation, and smart manufacturing solutions. He also explored investment opportunities in lithium and copper production and processing in Saudi Arabia. Additionally, the minister visited the Economic and Technological Development Zone in Guangzhou, gaining insights into industrial innovations and meeting with top company executives.
In Guangzhou, the minister met with officials from Guangzhou Automotive Industry Group Co., Ltd. (GAC) to discuss strategic partnerships and sustainable transportation solutions. He also explored opportunities for cooperation with Guangzhou Mino Equipment Company in manufacturing high-tech cars and enhancing cooperation with Guangzhou Industrial Investment Group in the industrial sector, particularly in smart equipment production. Furthermore, he met with the chairman of FOTON, a company specializing in commercial vehicle manufacturing.
Alkhorayef participated in a round-table meeting organized by the Federation of Chambers of Commerce in Guangdong Province, where he highlighted Saudi Arabia’s interest in attracting Chinese companies to invest in strategic industrial sectors. He stressed the importance of strengthening supply chains in sectors such as automobiles, aircraft, food, medicines, machinery, renewable energy, and more. The minister emphasized that Saudi Arabia welcomes Chinese investors, offering incentives, developed industrial lands, financing, worker training, and a preference for local products in government purchases.
In Hong Kong, Alkhorayef met with government officials and private sector institutions to discuss enhancing cooperation in the industrial sector. He explored joint investment opportunities in automation aligned with Saudi Arabia’s Future Factories Initiative. The minister invited Hong Kong companies to invest in promising industrial sectors in Saudi Arabia and sought to strengthen cooperation in innovation and digitization with companies like Johnson Electric Group.
Alkhorayef’s visit to China and Hong Kong was part of an East Asia economic tour aimed at strengthening bilateral ties, attracting investments to Saudi Arabia, and exploring mutual investment opportunities in the industrial sector. The minister was accompanied by senior officials from the Ministry of Industry and Mineral Resources, highlighting the importance of the visit in fostering collaboration and promoting economic growth between Saudi Arabia and these key Asian markets.
