Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef met with Foton Motor Company officials in the Chinese city of Guangzhou to discuss ways to enhance cooperation in vehicle manufacturing and the localization of bus, truck, and light-transport manufacturing in the Kingdom.

During the meeting, which was attended by officials from the Ministry of Investment, the Ministry of Transport and Logistic Services, and entities from the industry and mineral resources sector, participants reviewed the available investment opportunities in the Kingdom’s vehicle and bus manufacturing sector and discussed how to localize this vital industry in a way that contributes to achieving the goals of the Kingdom’s Vision 2030.

Alkhorayef stressed that the ministry is keen to enhance cooperation with international companies specialized in the manufacture of commercial and heavy vehicles, including Foton Motor, and to benefit from global expertise in this field, pointing out the Kingdom’s endeavor to bec
ome a regional hub for the automotive industry and an attractive destination for foreign investments in this sector.

Foton Motor officials expressed their great interest in the Saudi market and their desire to expand the scope of their investments in the Kingdom and contribute to localizing the industry and transferring technical knowledge to national cadres.

The meeting comes within the framework of the Ministry of Industry and Mineral Resources’ efforts to enhance cooperation with leading international companies in the field of automotive manufacturing and localize this strategic industry in the Kingdom. This will contribute to diversifying the national economy and achieving the goals of the National Industrial Strategy.

Founded in 1996 in Beijing, Foton Motor is one of the world’s leading manufacturers of commercial vehicles, including light, medium, and heavy trucks, and has a strong presence in many global markets, including the Saudi one.

Source: Saudi Press Agency