Saudi Industrial Property Authority (MODON) and National Industrial Clusters Development Program (Program) signed on Friday a memorandum of understanding with Goldwind Science & Technology Co., Ltd., a Chinese company specializing in the manufacturing of wind turbines and accessories, to assist the company in an effort to explore investment opportunities in this field in the Kingdom.

According to the Saudi state news agency SPA, the three-party MoU was signed on the sidelines of the Saudi-Chinese Investment Forum, which took place on Thursday at Ritz Carlton Hotel in Jeddah, was signed by Director of Marketing and Corporate Communications Bandar Al-Toaimi, and Vice President Plastics and Chemical sector Engineer Tariq Buksh, while the Executive Vice President of Goldwind Science & Technology Co., Ltd. Wu Kai, signed on behalf of the Chinese company.

The Memorandum states that “MODON” will allocate land to the Chinese company in its industrial cities, whereas the National Industrial Clusters Development Program will assist the company in identifying investment opportunities and supporting its search for local partners.

Al-Toaimi praised the role of partnerships in the implementation of the Kingdom’s vision 2030, its ability to stimulate industrial growth in the Kingdom and create the right environment by bringing international expertise, knowledge transfer and localization.