Saudi Arabia eyes tie-ups with China in R&D, innovation

Saudi Arabia is eyeing greater collaboration in research and development, as well as innovation with Asia as it looks to China for technology and automotive advancement in its mining sector transformation push, according to a senior government official.

The plans are part of the country's grander economic diversification plan — Vision 2030 — introduced by Saudi Crown Prince Mohammed bin Salman Al Saud in 2016 and includes mining as the third pillar of national industrialism. Saudi Arabia's abundant mineral wealth is estimated at $2.5 trillion.

Saudi Arabia's Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef, told China Daily in an interview in Hong Kong on Saturday that his country could complement the Asia region in providing greater opportunities for relocating most of the manufacturing to his country with cooperation in R&D and innovation.