Saudi Arabia: Signed 60 contracts with China
・Large business negotiations with a total value of over $25 billion
・Granted RHQ license to 9 companies in China
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China-Saudi Arabia Investment Conference: $25 billion
On December 12th, the China-Saudi Arabia Investment Conference was held in Beijing.
In various fields such as energy, tourism, finance, and infrastructure,
Signed more than 60 memorandums and agreements totaling more than $25 billion.
Approximately 1,200 people, including government and business officials from both countries, attended.
Major companies such as Saudi Aramco, SABIC, and ACWA Power are participating.
Main memorandum/contract:
According to media outlets, the following memorandums and contracts were signed:
1. Saudi: Esports Federation: $8.5 billion
China e-sports event (VSPO) participates and cooperates in e-sports.
Signed a contract valued at $8.5 billion.
China’s Donghua Energy (Oriental Energy) cooperates in the manufacturing field.
Signed a $7.5 billion contract.
China Civil Engineering Group builds a prefabricated factory in Saudi Arabia.
Signed a $350 million contract.
4. Saudi Ministry of Investment: $2 billion
China China Car Corporation (CRRC) collaborates on renewable energy and transportation projects in Saudi Arabia.
Signed a $2 billion contract.
5. Saudi: ACWA Power
Many Chinese companies have signed numerous project contracts for solar energy, green hydrogen and seawater projects.
6. Saudi United Motors Group
Signed a joint development agreement for connected car services with China’s Banma Information Technology.
7. saudi stock exchange
Co-listed with China’s Shenzhen Stock Exchange. Signed a contract for various service cooperation.
8. Saudi Arabia Regional Headquarters (RHQ)
Regional Headquarters (RHQ) licenses were granted to the following nine companies in China.
Huawei,
Dahua,
China Steel Construction Corporation (CRCC),
China Communication Service,
China Port Engineering (CHEC),
China Civil Engineering Group,
Hua University Foundation (BGI),
Nuctech,
iMile
https://www.jetro.go.jp/biznews/2023/12/767981ba07e23cad.html
Saudi Arabia: Regional Headquarters (RHQ) recruitment measures
We have started accepting license applications for regional headquarters (RHQ).
Saudi Ministry of Investment:
The Ministry of Investment Service Manual, which has been published since the first quarter of 2022, has been updated.
We have started accepting license applications for regional headquarters (RHQ).
There are three types of required documents:
1. Copy of commercial registration or commercial license certified by the respective Saudi embassy
2. Copies of commercial registrations or licenses from at least two countries (certified)
3. Most recently audited annual consolidated financial report (certified)
https://www.jetro.go.jp/biz/areareports/2022/9464454c169f1880.html