"I strongly believe that Chinese corporations are willing to continue pursuing their investment in the kingdom with their capabilities and high expertise, as their investment contributions add value to the Saudi economy. Undoubtedly, opportunities in the kingdom are promising and numerous in various fields," said Al-Harbi.

The Saudi government established four new Special Economic Zones (SEZs) with favourable taxation policies on April 14: King Abdullah Economic City (KAEC) SEZ, Jazan SEZ, Ras Al Khair SEZ, and Cloud Computing SEZ located in King Abdulaziz City for Science and Technology (KACST).

Chinese companies are already operating in the economic zones of Saudi Arabia.

The ambassador praised the "exceptional capabilities that the two countries have", as well as noting the unique advantages that Saudi Arabia possesses, which are being "harnessed to build a more diversified and sustainable economy".

Apart from a strategic geographical location linking three continents, Saudi Arabia also has energy resources and "young human competencies", while it is the largest economy in the region.

Saudi Arabia recorded the highest annual growth of GDP among the Group of 20 countries in 2022 at 8.7 percent.

Apart from economic advancements, the ambassador also praised China's contributions to restoring stability in the Middle East region,

Al-Harbi said the initiative of Xi and China's sponsorship of the talks between Saudi Arabia and Iran contributed to strengthening peace in the region, as the two countries agreed to restore relations and reopen their diplomatic missions, which contributed to maintaining stability and enhancing the chances of success of development plans in the region.