Jun 15, 2023 01:34 AM

ECONOMY

Saudi Arabia Wants More Chinese Investment

By Wang Zili, Zhang Erchi and Zhang Ziyu

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Saleh Ali Khabti, Deputy Minister for Investment Transaction. Photo: courtesy of National Industrial Development Center of Saudi Arabia

Saleh Ali Khabti, Deputy Minister for Investment Transaction. Photo: courtesy of National Industrial Development Center of Saudi Arabia

Saudi Arabia hopes to draw more investment from Chinese companies not only in crude oil and chemicals but across a slew of other industries — from mining, automobiles and property to digital infrastructure, renewables and cloud computing — as the kingdom seeks to diversify its economy.

For the oil-dependent Gulf country, digital transformation is needed, Saleh Khabti, a Saudi deputy minister for investment, said June 7 in an interview with Caixin before the 10th Arab-China Business Conference in Riyadh June 11–12.

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