Saudi Arabia has announced the signing of nine significant investment agreements with foreign companies, including India’s Vedanta and China’s Zijin Group. These deals, valued at over 35 billion riyals ($9.32 billion), are part of a strategic effort to enhance global supply chains.
The initiative, known as the Global Supply Chain Resilience Initiative, is a key component of Saudi Arabia’s National Investment Strategy. By partnering with international firms, the country aims to strengthen its role in the global market.
The exchange rate at the time of the announcement was $1 to 3.7560 riyals.