Chinese tech company Huawei has signed a contract with Kaden Investment to launch the largest non-China store in Saudi Arabia. [JEDDAH]
At the signing ceremony, at the Ministry of Investment headquarters in Riyadh, Investment Minister Khalid Al-Falih highlighted the importance of investment in information and communications technology, as well as energy and entertainment, which are important pillars of Kingdom 20 Vision’s development plan. [Arab News]
Al-Falih said, “Huawei has played an important role in the development of Saudi Arabia and has worked with governments and private companies to strengthen the country’s technological infrastructure”.
Agreement with Huawei symbolizes the prosperity of long-term collaboration, in this case, a 20-year relationship with the Chinese business. He is a “longstanding digital partner and ahead of the curve” noting the potential offered by the Kingdom, he added.
“The agreement with Huawei is a symbol of the prosperity that comes from long-term partnerships, in this case, a 20-year relationship with the Chinese business.”–Khalid Al-Falih (Investment Minister)
“This helps open up new markets and accelerate the development of entrepreneurs,” he added. “It is important to recognize the fact that Chinese companies are working hard to be a 5G pioneer.
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