Dongguan and Riyadh host cooperation exchange conference, inking 1.1 billion RMB deals

An economic and trade conference between Dongguan and Riyadh concluded Monday, signing cooperation agreements with a total value of 1.1 billion RMB.

The China (Dongguan) - Saudi Arabia (Riyadh) Economic and Trade Investment Cooperation Exchange Conference concluded on April 22, with six Dongguan-based companies, including Huawei Technologies, signing economic and trade cooperation projects with their Saudi counterparts. 

Saudi entrepreneurs expressed significant interest in engaging in economic and trade cooperation and investing in Dongguan.

Representatives from over 30 companies in various industries such as food, textiles, energy, industrial investment, papermaking, hardware and equipment manufacturing, consumer electronics, construction engineering, household products, and biotechnology in Dongguan had face-to-face interactive exchanges with more than 50 business representatives from Saudi Arabia in sectors including energy, engineering, trade, and investment.

The investment environments and distinctive advantages of Dongguan's Binhaiwan Bay Area and Tangxia Town were introduced through video presentations, allowing local attendees to gain a deeper understanding of Dongguan's geographical advantages, industrial capabilities, technological agglomeration abilities, and innovation and entrepreneurship environment. 

Lyu Chengxi, Mayor of Dongguan, attended the conference and delivered a speech. He highlighted that Dongguan, as a gateway for China's foreign trade, offers favorable conditions for cooperation with Saudi Arabia in production, manufacturing, and commodity trade.

Lyu hopes that this conference would serve as a catalyst for achieving more fruitful cooperation results between the two sides, including expanding the dimensions of trade cooperation and deepening bilateral investment collaboration, in order to achieve mutual benefits and win-win outcomes.