• register
Learn about the most important Saudi legislation and its amendments
in single version according to the latest amendment.
Discover many laws, regulations, resolutions and Relevant Legislation.
advanced search

Dear Customer: The Arab Lawyers Network apologizes for the temporary inconvenience related to the verification code via mobile and would like to inform you that the code will be sent via email. Please contact customer services for any further inquiries.

Press Dossier    By Date   01/01/2023 Ministry signs MoU to enhance Saudi Arabia’s automotive production

Arab News, Sunday, Jan 01, 2023 | Jamadi Al Thani 8, 1444

Ministry signs MoU to enhance Saudi Arabia’s automotive production

Saudi Arabia: The Saudi Ministry of Industry and Mineral Resources on Saturday signed a memorandum of understanding with Hyundai Motor Co. to advance automotive production in the Kingdom.

The deal aims to enhance joint cooperation in the automotive industry across the region in order to achieve the objectives of the National Strategy for Industry in developing local manufacturing capabilities.

It is also in line with the objectives of Saudi Vision 2030, which seeks to diversify the Kingdom’s economic base.

The memorandum was signed in the presence of Minister of Industry and Mineral Resources Bandar Alkhorayef and his deputy Osama Al-Zamil, Minister of Economy and Planning Faisal Al-Ibrahim and the CEO of the Saudi Industrial Development Fund, Ibrahim Al-Mojil.

Hyundai was represented by Heung Soo Kim, its executive vice president and head of global operations.

Under the memorandum, Saudi Arabia and Hyundai plan to build a manufacturing plant for electric vehicles and internal combustion engines to be based in the Kingdom.

Th agreement came after Hyundai revealed plans to explore investment opportunities in Saudi Arabia.

Page 1 Of 1
SAUDI LAWS
We seek to publish the laws and legislation of Saudi Arabia translated into English on our website, in addition to many other services characterized by the Network of Arab Lawyers such as providing a version of the legislation in accordance with the latest amendment, preparing for legislation Profile and Linking legislation compiled by a link and facilitating the search process and classifying and Cataloging legislation, as well as providing professionalism translation of laws and legislation that contributes to enriching the legal field to serve national lawyers, Arbitration tribunal and foreign investors.
Terms of use
Subscribing to the site, the subscriber is subject to the penalty of maintaining the honesty and direct responsibility for all violations or infringements of the rights of the owner, whatever they may be, including printing and copying more than the rate agreed by the management of the site according to what it sees within the scope of the policy of fair use and the exploitation of any document of the site commercially and in any way. (The maximum print operations do not exceed 300 pages per year for a package of $2,000 per encyclopedia, with the web page on which fair use policy rates are calculated containing 200 words per page (A4) regardless of the number of pages through which legal content is reviewed through it. More
gulf countries
Maroof certificate