The Chinese multinational networking and telecommunications equipment and services company Huawei, has officially been licensed to carryout business in Saudi Arabia, making it the first Chinese company to obtain a 100 percent commercial license to invest in the kingdom and establish a center for innovation.
It is also the first to be issued to a Chinese company during the visit by Prince Mohammad Bin Salman Bin Abdul Aziz, Deputy Crown Prince of Saudi Arabia and Chairman of the Council of Economic and Development Affairs to China.
The announcement was made during the Deputy Crown Prince’s visit to China, and within the Aramco organized forum for showcasing the Kingdom’s vision “2030” in Beijing.
After submitting a comprehensive action plan to the Saudi Arabian General Investment Authority that includes several initiatives to contribute to the localization of the Information and Communication Technology industry in the Kingdom, the new license would allow the company to sell its products directly in the Saudi market.
Minister of Trade and Investment Dr. Majed Bin Abdullah Al Qasabi had handed over the license during the forum.
Huawei, represented by Pang Jimin, Director of Huawei Global Government Affairs, received the license to start the company’s business in the Kingdom with a 100 percent ownership privilege. The new license would allow the company to sell its products directly in the Saudi market.
According to a statement released by the company, this is the first commercial license in the field of ICT in the Kingdom, and it is also the first commercial license in Saudi Arabia to a Chinese company.
Huawei, represented by Pang Jimin, Director of Huawei Global Government Affairs, received the license to start the company’s business in the Kingdom with a 100 percent ownership privilege. The new license would allow the company to sell its products directly in the Saudi market.
Ramadan Ding, CEO of Huawei Tech Investment Company in Saudi Arabia, said that his company has been operating in Saudi Arabia since 1999.
“We have launched the latest technological innovations, in addition to our support to young talents by investing to improve their skills through establishing a technology center. We look forward to future achievements and transforming ideas into reality using our latest innovations and the confidence of our customers in order to support the Kingdom’s vision 2030”, he said.
Ding said that an action plan has been approved, which stipulates that Huawei will establish an exhibition showcasing innovations, organize an annual and quarterly competition in Saudi Arabia to encourage young talents to innovate.
This, Ding said, will provide a platform for innovation, foster small and medium companies and establish a center for ICT competencies to train thousands of professionals over the next three years.
Source: http://english.aawsat.com/2016/09/article55357581/huawei-obtains-100-license-invest-saudi-arabia