A leading Saudi company has announced the signing of a strategic partnership with private sector partners from China, marking a first-of-its-kind initiative to foster collaboration between two of the world’s largest economies.
NSK Consultants, a Saudi-owned company founded in 2006 and based in Riyadh, and Beijing NAR International Consulting Company Limited, alongside the National Advanced Company, have signed two major partnerships in Saudi Arabia.
This collaboration aligns with the shared vision of boosting industrial integration between the Kingdom and China, in line with Saudi Arabia’s Vision 2030, which seeks to diversify the economy and attract foreign investments. Trade between the two nations exceeded $87 billion in 2023, underscoring the strong economic ties between Saudi Arabia and China.
The partnership was signed in the presence of representatives from both sides, with a mutual commitment to providing specialized industrial consulting to Chinese companies looking to enter the Saudi market. This partnership will offer an excellent opportunity for Chinese companies to understand the Saudi market, assist with compliance reviews, and help them navigate Saudi tax and legal regulations. Additionally, it will provide the necessary technical and logistical support to ensure the success of these investments. The strategic relationship is formed at a time when Chinese investments in Saudi Arabia have surpassed $35 billion, primarily focusing on infrastructure, energy, and technology sectors. Conversely, Saudi investments in China have reached over $10 billion, concentrated in the oil and petrochemical sectors.
Through this partnership, the three offices will facilitate trade relations and provide the expertise needed to transfer knowledge and technology, contributing to the development of Saudi Arabia’s industrial sector. The agreement is expected to create new job opportunities and reinforce Saudi Arabia’s position as a regional and global industrial hub.
Dr. Nasser S. bin Kadasah, chairman of NSK Consultants, said: “We are delighted to sign this strategic partnership with our Chinese partners, and we aim to achieve tangible results that enhance our industrial capacities and increase bilateral trade between our two nations. We are committed to providing all necessary support to attract Chinese investments and foster a conducive environment for growth.”
He added: “This collaboration underscores the strong and growing relationship between Saudi Arabia and China, supporting ongoing efforts to enhance economic partnerships and promote the development of local industries to benefit both nations.”
The parent company of NAR International has already achieved success in Saudi Arabia, working closely with the Saudi private investment sector in engineering, procurement, construction, and operation projects related to smart farming. It plans to introduce relevant industrial facilities for agriculture through this partnership.
The collaboration is being facilitated by three international offices located in Riyadh, Beijing, and Suzhou, with the goal of attracting leading Chinese manufacturers to invest in the Saudi market, enhancing bilateral trade, and providing industrial consultancy services.
