Saudi Arabia’s automotive industry is poised for significant advancement as Minister of Industry and Mineral Resources Bandar Alkhorayef leads a high-level delegation to East Asia. The visit, scheduled from September 1 to 8, aims to strengthen bilateral relations, attract investment, and explore joint-venture opportunities in the industrial sector, particularly in automotive manufacturing.
The Saudi automotive market, a major player in the Middle East and North Africa, accounts for 40 percent of the region’s total sales. This visit aligns with the Kingdom’s strategic goal of becoming a leading automotive hub and a pioneer in innovative, eco-friendly vehicle solutions, as outlined in Saudi Vision 2030. This ambitious plan seeks to diversify the economy and position Saudi Arabia as a global leader in industrial development.
The delegation’s itinerary includes key meetings with global industry leaders in China and Singapore. In China, discussions with technology giant Huawei in Guangzhou will focus on smart solutions and integrating Fourth Industrial Revolution technologies, which blend digital, biological, and physical advancements. The delegation will also engage with GAC Group, General Lithium, and other prominent firms in automation and technology.
In Singapore, the agenda features meetings with high-ranking officials, including the Deputy Prime Minister, the Minister of Trade and Industry, and the Minister of Manpower. The delegation will also visit A*STAR, the Singapore Manufacturing Federation, and Tuas Port, the world’s largest automated port.
The visit underscores Saudi Arabia’s robust strategic relationship with China, its largest trading partner, with trade exceeding $100 billion in 2023. This partnership includes significant Chinese investments in Saudi automotive manufacturing, minerals, and semiconductors.
As Saudi Arabia continues to focus on the development of innovative technologies and market growth, this East Asia visit represents a critical step in solidifying the Kingdom’s position as a leader in the global automotive industry.
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