Riyadh - Sharikat Mubasher: The Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef revealed that more than five Chinese companies obtained licenses to operate in the Saudi mining sector.

In an interview with Asharq Bloomberg on the sidelines of the Saudi-Chinese Business Council meeting, the minister noted that several Chinese companies are exploring available investment opportunities across various sectors.

Alkhorayef emphasized the pivotal role of both government and private sectors in deepening bilateral economic ties between both countries.

Additionally, the minister noted that the Kingdom works with Chinese companies to support the Future Factories program, which aims to shift 4,000 factories from dependence on low-wage and low-skilled Laborers to operational efficiency, automation and application of advanced industrial solutions and practices.

On the sidelines of the council meeting, Alkhorayef met Chinese industrial private’s sector leaders, including CEO of BOE Technology Group, the Chairman of Kyland Technology, and the Chairman of Tsinghua Unigroup, to strengthen localization of advanced manufacturing technologies.