Saudi, Chinese companies sign 6 MoUs to enhance cooperation in vital sectors

Saudi Minister of Municipalities and Housing Majid Al-Hogail launched the Saudi-Chinese Contractors Forum in Shenzhen, China, signaling a push to deepen strategic partnerships in key sectors.

The forum, held during Al-Hogail's official visit from June 13 to 16, aims to bolster collaboration in housing, construction, infrastructure, and smart technologies. It also seeks to open new avenues for investment between Saudi Arabia and China, aligning with the objectives of Saudi Arabia's Vision 2030.

Al-Hogail's visit includes meetings with government entities and companies specializing in urban development, housing, smart city technologies, and digital transformation. Discussions are centered on technology transfer, localizing construction-related industries, and advancing joint initiatives.

The forum highlighted the growing economic and investment cooperation between the two nations, underpinned by strong strategic relations and expanding collaboration across infrastructure, technology, industry, supply chains, and urban development. Al-Hogail emphasized that the forum reflects the progression of Saudi-Chinese relations toward deeper partnership and integration.

During the event, six memoranda of understanding were signed between Saudi and Chinese companies. These agreements focus on enhancing cooperation in investment, localizing modern construction technologies, transferring knowledge and expertise, developing human capabilities, and supporting public-private partnerships. The MOUs cover sustainable construction, advanced technological solutions, supply chain development, and joint investment opportunities, reinforcing economic integration and supporting the localization of value chains within the Saudi construction sector.

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The forum reflects the advancement of Saudi-Chinese relations and their progression toward deeper levels of partnership and integration.