RIYADH - Saudi Arabia announced on Sunday, billions of dollars in investment deals between China and the Arab world, on the first day of the China-Arab business conference in Riyadh., including a recent landmark Chinese-brokered rapprochement between powerhouses Iran and Saudi Arabia that has shifted regional relations.Over two days, it brings together more than 3,500 government and business officials from China and Arab countries, the Saudi investment ministry said in a statement.
This figure includes a US$5.6-billion memorandum of understanding between the Saudi investment ministry and Human Horizons, a Chinese maker of electric and self-driving cars. It detailed agreements in various fields, including technology, agriculture, renewable energy, real estate, natural resources and tourism.
“ meeting is an opportunity... to build a shared future towards a new, beneficial era for our peoples,” he said.