The Saudi Arabian General Investment Authority (SAGIA) recently hosted a delegation of more than 50 representatives from Chinese businesses in SAGIA headquarters in Riyadh, with the aim to highlight recent positive developments led by SAGIA, and implemented by other governmental bodies under the "Tayseer" campaign to enhance the ease of doing business in the Kingdom. Attendees were also introduced to the Ministry of Labor's regulations as well as the procedure for obtaining business licenses. The meeting came as both China and Saudi Arabia are presently making significant strides to boost economic ties and enhance bilateral trade and investment. In March, the Custodian of the Two Holy Mosques, King Salman visited China where multiple agreements were signed between the two countries valued at 65 billion US dollars. Speaking about the meeting, Ibrahim AlSuwail, Deputy Governor of Investor Services, said: "At SAGIA, we are honored to host representatives from leading Chinese companies in various sectors. It is our aim that we continuously strive to strengthen commercial and investment cooperation between The Kingdom and the People's Republic of China through extending Chinese companies the information, assistance, and opportunity to participate in Vision 2030. Our dialogue with dozens of businessmen today will hopefully be the next step in concluding deals and initiatives in the near future across various fields, such as energy, information technology, transportation and entertainment among others." Currently, there are 192 ongoing projects involving Chinese companies in the Kingdom valued at SAR 9.2 billion. Officials at SAGIA believe, however, this is just the beginning: "Although we have seen a healthy amount of inward investment from China, we believe this is just the start of a very mutually beneficial relationship with the Chinese business community" Mr AlSuwail said. "As more opportunities under Vision 2030 are unveiled, SAGIA looks forward to working with an even greater number of Chinese companies to help write the next success story between Saudi Arabia and the People's Republic of China."
