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Saudi Arabia, China Discuss Investment Opportunities in Lithium, Copper Production

Alkhorayef is on an official visit to China as part of an economic tour in East Asia that included Singapore. (SPA)
Alkhorayef is on an official visit to China as part of an economic tour in East Asia that included Singapore. (SPA)
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Saudi Arabia, China Discuss Investment Opportunities in Lithium, Copper Production

Alkhorayef is on an official visit to China as part of an economic tour in East Asia that included Singapore. (SPA)
Alkhorayef is on an official visit to China as part of an economic tour in East Asia that included Singapore. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef discussed with Chinese mining companies on Friday boosting cooperation in the mining sector and joint investment opportunities in processing and producing lithium used in electric car batteries and processing and refining copper.

Assistant Minister of Industry and Mineral Resources for Planning and development Abdullah Ali Alahmari, CEO of the National Industrial Development Center, Saleh Al-Solami and CEO of the Saudi Authority for Industrial Cities and Technology Zones (MODON) Majed Al-Argoubi attended the meeting in China.

Alkhorayef is on an official visit to China as part of an economic tour in East Asia that included Singapore. The minister is heading a delegation of officials from the mineral wealth industry with a plan to strengthen bilateral ties, attract investments to the Kingdom, and discover investment opportunities in the industrial sector.

Alkhorayef reviewed with the Chairman of the Board of Directors of General Lithium Corporation the Kingdom's objectives in the electric car manufacturing sector, the available investment opportunities in the sector, and the importance of developing cooperation and exchanging knowledge and innovation in the sector, especially in the field of lithium production and processing.

The minister highlighted the Kingdom's plans to become a global hub for producing and exporting electric vehicles and develop its industry to produce 500,000 electric vehicles annually by 2030 as part of developing the infrastructure for the electric car industry in Saudi Arabia.

The automotive industry is one of the top promising sectors that the National Industrial Strategy has focused on developing, including the focus on manufacturing environmentally friendly vehicles, including electric cars.

Last year, the Kingdom issued a license for the first Saudi brand for manufacturing electric cars, "Ceer", and the first factory in the Kingdom for manufacturing electric vehicles, "Lucid", was inaugurated. Ceer, a joint venture between Taiwanese technology group Foxconn and the Saudi Public Investment Fund, signed a USD1.3 billion contract to establish an electric car complex in King Abdullah Economic City, scheduled to start production by 2025.

Alkhorayef’s visit to China follows a visit last month to Chile, the second largest producer of lithium in the world.

On investment in copper processing and refining, Alkhorayef met with the Chairman of the Board of Directors of Jiangxi Copper Company, which operates in the field of copper extraction, smelting and refining and plays a pivotal role in the global copper industry, and leads innovations and sustainability initiatives to meet the growing demand for copper globally.

Additionally, the minister held a series of meetings with leaders of major companies in the fields of smart manufacturing solutions, infrastructure development, and packaging. They discussed mutual investment opportunities in these sectors and the capabilities and incentives provided by the Kingdom to industrial investors.

Alkhorayef met with the Chief Strategy Officer at Biwin Storage Technology Company and reviewed opportunities for cooperation in the packaging sector.

He met with the Co-founder and CEO of HeyGears in Guangzhou, which specializes in applying 3D printing technology, ad creating comprehensive smart manufacturing solutions in multiple sectors, including consumer electronics, dentistry, healthcare, industrial, artistic and creative products. HeyGears provides technical support services in more than 30 countries.

Alkhorayef discussed with the CEO of Huawei Enterprise for Oil and Gas and Chairman of Huawei KSA initiatives to bolster digital skills and the potential to implement advanced technologies, such as the Internet of Things, AI, and robotics, to improve manufacturing efficiency and productivity.

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Arab Financial Markets Improve Amid Trump Inauguration

A Saudi dealer monitors the stock market in Riyadh. (Reuters)
A Saudi dealer monitors the stock market in Riyadh. (Reuters)
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Arab Financial Markets Improve Amid Trump Inauguration

A Saudi dealer monitors the stock market in Riyadh. (Reuters)
A Saudi dealer monitors the stock market in Riyadh. (Reuters)

Arab financial markets reacted positively to the inauguration of US President Donald Trump for a new term on Monday, despite concerns from some nations about the tariffs he plans to impose. The tariffs are expected to affect global trade flows and pricing.

Trump’s swearing-in also coincided with the start of a ceasefire between Israel and Hamas on Sunday, which is set to have a favorable impact on market sentiment.

Experts told Asharq Al-Awsat that easing geopolitical tensions in the Middle East has played a role in boosting economic stability across Arab markets. They anticipate significant improvements in market performance throughout the region, particularly in the Gulf, in the near future—raising optimism for robust economic growth.

Mohammed Al-Farraj, Senior Head of Asset Management at Arbah Capital, noted that global economic forecasts point to noticeable improvement following Trump’s inauguration.

In remarks to Asharq Al-Awsat, Al-Farraj attributed this optimism to several key factors, including heightened political stability, strengthened supply chains, and supportive monetary and fiscal policies introduced by the new US administration.

The gradual reduction of tariffs on US imports is expected to have a major impact on the labor market and inflation, fostering a more stable and growth-friendly economic environment for Arab markets, particularly those in the Gulf, he went on to say. The Saudi Stock Exchange (Tadawul) is poised to lead this growth.

Dr. Salem Baajajah, an economic expert and academic at King Abdulaziz University, told Asharq Al-Awsat that Trump’s inauguration is likely to generate substantial gains for US markets due to his pro-growth policies. This, in turn, will positively influence global financial markets, especially in the Gulf.

Reduced geopolitical tensions in the Middle East—along with the Gaza truce and prisoner exchange agreements—have further strengthened economic stability across Arab markets, he added.

Meanwhile, most Arab and Gulf stock markets closed higher on Monday, achieving varying levels of gains.

The Saudi Stock Exchange’s main index (TASI) ended Monday’s session up by 0.40%, closing at 12,379 points—its highest level since May 8. The increase was driven by a 4.4% rise in Aqua Power shares, while Aramco, the heaviest-weighted stock on the index, remained flat at SAR 28.15.

The Qatari index climbed 0.40% to close at 10,508 points, supported by a 2.2% rise in Industries Qatar shares. Kuwait’s index rose by 0.53%, while the Abu Dhabi Securities Exchange saw a modest increase of 0.08%.

Dubai’s main index, however, declined by 0.30%, impacted by a 2.9% drop in Salik shares. Similarly, Bahrain’s index fell slightly by 0.08%.

Outside the Gulf, Egypt’s blue-chip index slipped 0.37%, weighed down by a 0.9% decline in shares of Commercial International Bank. Morocco’s Casablanca Stock Exchange index dropped by 0.33%. Conversely, Oman’s Muscat Stock Exchange posted a slight gain of 0.03%.