The Saudi Ministry of Investment (MISA) has forged a collaborative investment and cooperation agreement with China’s Goldenport Holdings, with the objective of cultivating investment prospects in motor sports, racecourses, the automotive industry, and assembly within the Kingdom. The estimated value of this agreement amounts to $20 million.
وقعت #وزارة_الاستثمار ممثلة بسعادة وكيل الوزراة لتطوير الاستثمار، م.صالح خبتي، اتفاقية استثمار وتعاون مشترك مع شركة جولدن بورت القابضة الصينية، بهدف تطوير فرص الاستثمار، في مجال رياضة المحركات وحلبات السباق، وصناعة وتجميع السيارات في المملكة، بقيمة تقدر بـ 20 مليون دولار. pic.twitter.com/AG5Wf6mUeE
— وزارة الاستثمار (@MISA) February 21, 2024
Via a post on the X platform, the Ministry declared that the agreement, endorsed by Engineer Saleh Al-Khabti, deputy minister of Investment Transaction Deputyship, is part of its commitment to enhancing flexibility in licensing procedures and investor services. Furthermore, it aims to provide comprehensive support to investors throughout all stages of their investment journey, from establishment to operation, in order to foster an exceptionally efficient investment environment and facilitate business endeavors.
MISA signed another agreement with leading French shipping company, CMA CGM Group, to promote sustainable investments in the transportation and logistics services sector. The agreement aims to support the company’s investment projects in the Kingdom and explore potential financial opportunities.
In addition, both parties have expressed their commitment to discussing alternative fuel solutions to reduce emissions, share knowledge and best practices globally, and provide training to Saudi nationals in this field. This collaboration aligns with the goals of the National Transport Strategy within Saudi Arabia’s Vision 2030 agenda.
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