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  • Engie takes part in largest auction of carbon credits in Saudi Arabia

    In total, 15 Saudi and regional entities took part in the auction, including Aramco, Olayan Financing Company, and Saudi Arabian Mining Company (Ma’aden), which purchased the most significant number of carbon credits.

  • Chinese EV start-up Enovate to build plant in Saudi Arabia as President Xi’s visit to Riyadh begins to pay off

    Enovate Motors, a Chinese electric vehicle (EV) start-up, plans to build a factory in Saudi Arabia, following a state visit by President Xi Jinping to the kingdom. The carmaker, which counts Shanghai Electric Group as an early investor, said on Monday that it had signed an agreement with Saudi Arabian authorities and joint-venture partner Sumou to set up an EV plant with an annual capacity of 100,000 units. The factory, which will include a research and development centre, will cost about US$500 million, Enovate said in a statement.

  • Saudi Arabia’s investor event to boost partnership opportunities for SMEs and start-ups

    Catalyse Saudi is part of the country's push to boost SMEs' contribution to gross domestic product to 35 per cent in 2030, from 20 per cent now, as set out in the kingdom's Vision 2030 programme and National Investment Strategy. The ministry "aims to promote Saudi Arabia as a world-class investment destination ... this edition will focus on the future of the entertainment industry, bringing together guests to discuss opportunities across sectors such as gaming, media, music, sport, design, tourism and hospitality, with a specific lens on increasing investment in Saudi Arabia", it said.

  • Perspective: Secretary Xi’s Visit to Saudi Arabia Doesn’t Look Like a Threat to U.S.-Saudi Partnership

    Without doubt Saudi Arabia is using the Xi visit and the growing relationship with China as part of a series of moves to effectively announce itself as an emerging mid-level power in an increasingly multipolar world. The United States appears to be adjusting to this new reality by emphasizing the benefits of burden sharing and cooperation on mutually shared goals rather than a protection plan based on security for oil. That’s a far healthier and sustainable approach to the relationship than trying to persist with outmoded notions of how the relationship works

  • China and Saudi Arabia Sign Strategic Partnership as Xi Visits Kingdom

    Under the agreement, the two sides agreed to hold meetings between their heads of state every two years, according to the Chinese news agency Xinhua. Beijing also agreed to list Saudi Arabia as a destination for group travel and to expand cultural and people-to-people exchanges, Mr. Xi said on Thursday during his talks with Prince Mohammed.

  • Saudi Arabia and China: Chronicle of a strategic partnership

    Since diplomatic ties were established more than three decades ago, the leaders of both Saudi Arabia and China have worked steadily to develop and enhance the bilateral relationship.

  • Saudi Arabia’s Film AlUla starts construction on studio complex

    Saudi Arabia’s Film AlUla, the film agency of the Royal Commission for AlUla (RCU), has announced the start of construction on the first phase of its ambitious new film and TV studio complex. The first phase will encompass approximately 330,000 square feet (30,000 square metres) and is scheduled to be up and running for the fourth quarter of 2023. The complex will feature two soundstages, production support buildings, workshops, a pyro/sfx building, catering facility and admin building plus a 70,000 square feet (6,500 sq m) backlot and a sound recording studio.

  • Foster + Partners Wins Competition for King Salman International Airport in Saudi Arabia

    Foster + Partners has been announced as the winner of the competition to design the new King Salman International Airport in Riyadh. Saudi culture and identity drive the airport's architectural design to ensure a unique travel experience for visitors and transit travelers. The master plan will boost Saudi Arabia's capital as a global logistics hub, stimulate transport, trade, and tourism, and act as a bridge connecting 180 million passengers from East to West.

  • Why are Chinese investors and startups so excited about Saudi Arabia?

    “In the last three years we built our HQ in Saudi, we built a local team and we looked at the needs: logistics and a cloud service is what is needed,” says Wong. “If you don’t invest in a cloud service and logistics, then you won’t change a fundamental thing. If you invest in that most important layer, you can have hundreds of thousands of startups later on. Those kind of investment opportunities no longer exist in mature markets.”

  • Why are Chinese investors and startups so excited about Saudi Arabia?

    “Mena used to be a region that was overlooked for decades, that’s why at that time we were curious,” says Jessica Wong, founder and managing partner at eWTPA Capital. “We started to evaluate and study other innovations and what are the chances of it happening in other emerging markets. Several of our portfolios did extremely well [in Mena] and we understood why.”