Saudi crown prince signs raft of cooperation agreements with China

Crown Prince Mohammed bin Salman signs an agreement between the Kingdom and China in Beijing on Friday. (SPA)
Updated 23 February 2019
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Saudi crown prince signs raft of cooperation agreements with China

  • the crown prince headed the Saudi delegation at the third session of the China-Saudi Arabia High-Level Joint Committee

BEIJING: Crown Prince Mohammed bin Salman on Friday met with Chinese Vice Premier Han Zheng to discuss ways of further developing relations between the Kingdom and China.

The meeting took place in the grand surroundings of the Great Hall of the People in the Chinese capital Beijing. After their talks, the crown prince headed the Saudi delegation at the third session of the China-Saudi Arabia High-Level Joint Committee which he co-chaired with Zheng.

Delegates at the meeting discussed moves to strengthen cooperation between the two countries on trade, investment, energy, culture and technology, as well as the coordination of political and security matters. The committee also reviewed plans for greater integration between China’s Belt and Road development strategy and the Saudi Vision 2030 reform program.

After agreeing on the minutes of the meeting, the Saudi royal and Zheng took part in the signing of a range of agreements, memorandums of understanding (MoU), investment projects and bilateral cooperation accords between the Kingdom and China:

The cooperation agreement in maritime transport between the Chinese and Saudi governments, signed by Saudi Minister of Commerce and Investment Majid Al-Qassabi and Chinese Minister of Transport Li Xiaopeng.

MoU between the Kingdom’s Ministry of Energy, Industry and Mineral Resources and the National Development and Reform Commission in China, signed by Saudi Energy Minister Khalid Al-Falih and Ning Jizhe, vice chairman of the National Development and Reform Commission.

MoU between the Chinese Ministry of Commerce and Saudi Ministry of Commerce and Investment to form a working group to facilitate trade, signed by Abdul Rahman Al-Harbi, the Kingdom’s deputy minister of commerce and investment, and Qian Keming, Chinese vice minister of commerce.

Loan agreement between the Saudi Fund for Development (SFD) and the Chinese Ministry of Finance to build and equip three hospitals in Yanbian city in Jilin Province, signed by Saudi Minister of State for Foreign Affairs Adel Al-Jubeir and the Chinese deputy finance minister.

Rehabilitation

Loan agreement between the SFD and Chinese Ministry of Finance to reconstruct and rehabilitate areas affected by earthquakes in Sichuan Province, signed by Al-Jubeir and the Chinese deputy finance minister.

Agreement between the Saudi Ministry of Interior and the Chinese Ministry of Public Security to cooperate in fighting cybercrime, signed Nasser Al-Dawood, undersecretary of the Saudi Ministry of Interior, and China’s deputy minister for public security.

MoU between the Public Investment Fund (PIF) of Saudi Arabia and China’s National Committee for energy to invest in renewable energy, signed by PIF head Yasir Al-Rumayyan, and the committee’s vice chairman.

Minutes of the meeting about cooperating in combating terrorism between the Saudi Presidency of State Security and Chinese Ministry of Public Security, signed by Lt. Gen. Abdullah Al-Qarni, deputy director-general of General Investigation for the Kingdom, and the Chinese minister.

MoU between the Saudi Authority for Intellectual Property and the Chinese National Committee for Intellectual Property Rights, signed by Dr. Abdul Aziz Al-Swailem, the authority’s executive chairman, and committee chairman Xin Xiangyu.

MoU to participate in investing in renewable energy projects, signed by the chairman of ACWA Power, Mohammed Abunayyan, and president of the Silk Road Fund, Wang Yanzhi.

Cooperation agreement for Saudi Aramco to acquire 9 percent of Chinese project Zhejiang Petrochemical, signed by Saudi Aramco CEO Amin Nasser and Xung Wi, mayor of Zhushan.

Agreement between Saudi Aramco with NORINCO Group and Panjin Sincen to develop a fully integrated refining and petrochemical complex, located in the city of Panjin in China’s Liaoning province, signed by Nasser and Tang Yijun, governor of Liaoning province and chairman of NORINCO.


MiSK, Qiddiya team up for internship program 

Updated 25 March 2019
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MiSK, Qiddiya team up for internship program 

  • Interns will work on entertainment mega-project
  • Program open to university seniors and new graduates

RIYADH: A new internship program for young Saudis has been launched in the Kingdom, following a partnership between Misk Foundation and the Qiddiya Investment Company (QIC).

The program runs from June 16 to Aug. 31, 2019, and provides an opportunity for university seniors and recent graduates to be part of Qiddiya, an entertainment mega-project located 40 minutes from Riyadh.

Interns will have the chance to work at Qiddiya’s corporate offices alongside professionals from around the world and will be placed across 12 departments.

They will learn and develop skills that are required to succeed in their professional lives.

They will also gain exposure to QIC’s culture and learn from executives with over 20 years of experience across several sectors. 

QIC CEO Mike Reininger said: “We are contributing directly to the Saudi Vision (2030 reform plan) by creating a richer lifestyle for Saudi citizens while spurring innovation in the creative, hospitality and entertainment sectors. This unique opportunity allows students and fresh graduates to experience what it takes to be part of the change in Saudi by giving them the chance to work alongside a group of both local and international seasoned professionals. Thanks to this partnership with MiSK, we will be training the next generation of industry leaders.” 

Application to the program is open for those with fewer than two years of professional experience. Candidates must show strong academic credentials and submit a short video as part of their application.

King Salman led the Qiddiya ground-breaking ceremony in front of a global audience last April.

The project is aimed at helping to stem the $30 billion a year which Saudis currently spend abroad on tourism, and has the backing of the Kingdom’s Public Investment Fund.

It targets local, regional and international tourists and will be Saudi Arabia’s preeminent entertainment, sports and cultural destination.

It is expected to be the world’s largest entertainment city by 2030, with a total area of 334 square kilometers, surpassing Walt Disney World in Florida, which is only 110 sq. km.