Arab News, Wednesday, Aug 16, 2023 | Muharram 29, 1445
Al-Hogail discusses green industrial complex plans
in China
RIYADH: Saudi Arabia’s
Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail convened
a meeting in the Chinese capital, Beijing, with several heads of Chinese
banks, the Saudi Press Agency reported on Tuesday.
The meeting was held to
discuss potential investment and development opportunities in infrastructure
projects within the municipal and housing sectors in Saudi Arabian cities.
During the meeting, Al-Hogail
engaged in discussions with the heads of the Export-Import Bank of China,
China Development Bank, and Industrial and Commercial Bank of China Limited.
They focused on Saudi Arabia’s
housing plans and programs, which entail providing housing schemes and
improving the quality of the housing sector.
They also covered aspects
regarding master plans for building technologies and project sustainability
and plans that encompass financing and refinancing programs from banks to
facilitate housing development.
Al-Hogail explored
opportunities for joint cooperation and collaborated on various financing
models for infrastructure projects in Saudi Arabia.
He expressed his keenness to
open new horizons and avenues for Saudi-Chinese investment and to strengthen
partnerships with Chinese banks and companies that specialize in urban
infrastructure development, housing, and financing.
Al-Hogail is currently serving
as patron of the Saudi-Chinese Business Forum, which is set to launch in
Beijing on Wednesday and will be attended by officials from the ministry,
Saudi investors, Chinese companies, and businessmen.
The forum is designed to
review investment opportunities and advantages provided by the Kingdom,
particularly within the areas of infrastructure and housing.
“The ultimate goal is to
attract the best Chinese companies for investment and foster stronger
partnerships between the two nations,” SPA said.
Saudi Arabia and China sealed
35 investment agreements worth around $30 billion during the visit of
Chinese President Xi Jinping to the Kingdom last December. Among these was
an action plan to activate the housing memorandum of cooperation provisions,
signed by Al-Hogail and Wang Wentao, China’s commerce minister.
Last month, Al-Hogail visited
Turkiye, where he attended the launch of the Saudi-Turkish Business Forum in
Istanbul. He also met with several Turkish officials, businesspeople, and
investors.
The visit to Turkiye also
sought to enhance cooperation opportunities with Turkish companies in urban
and real estate development, construction, contracting and smart cities.