The Governor of Saudi Arabia General Investment Authority on Behalf of the Saudi Government Signed the Cooperation Agreement with SHEN GONG Group.

  The investment project of SHEN GONG Group in Saudi Arabia would be implemented in three phases to build two factories of polymer new materials and smart electronic products respectively. Once this project is put into practice, Saudi Arabia will see products of LED smart lighting, micro or mini LED display, 5G, F5G or IoT intelligent terminals, smart home and smart city manufactured locally.

  SHEN GONG Group would leverage its strengths in the fields of semi-conductor, integrated circuit, innovative plastic application, electronics, the R&D of software and hardware, and the like, in order to introduce strong industry supporting, enrich the industrial system of the KSA and diversify the economy. Moreover, the group would also create more jobs and demands for materials, and contribute to the attraction of more Chinese investors.

  This signing denoted the greatest importance that the Saudi government attached to the non-oil industry and the transformation of its development pattern, and also added new energy to the development of the KSA.