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MISA, China’s Goldenport sign $20 million agreement to drive investments in motor sports, automotive sectors

The deal is part of MISA's commitment to enhancing flexibility in licensing procedures and investor services
MISA, China’s Goldenport sign $20 million agreement to drive investments in motor sports, automotive sectors
Part of signing the agreement (Photo Credit: MISA)

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.

Read more: Saudi Investment Ministry, French CMA CGM Group forge transport and sustainability partnership

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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