Lenovo’s Factory Groundbreaking Highlights Saudi Arabia’s Growing Role in Global Advanced Manufacturing

Chinese enterprises — especially those with expertise in technology manufacturing — are capitalizing on the strengths to further expand their global presence. This is evident in China’s foreign direct investment (FDI) in new sites across the world. According to the World Investment Report 2024 by UN Trade and Development (UNCTAD), the annual value of outward greenfield FDI projects from China reached a record high, amounting to approximately US$165.4 billion in 2023. The destinations for these Chinese investments were concentrated mostly in emerging markets in the Middle East, Southeast Asia, and Africa, with Saudi Arabia being the largest single recipient.