On behalf of OneMT, the leading Chinese gaming company, Jerry Li, founding partner of eWTP Arabia Capital (eWTPA), signed an investment agreement with Deputy Minister of Investment, Eng. Saleh Khabti late on Dec 8 in the Ministry of Investment in the Saudi capital.
Minister of Investment His Excellency Khalid A. Al-Falih, and Minister of Communications & Information Technology His Excellency Abdullah Alswaha attended the signing ceremony.
The agreement marks that OneMT and eWTPA’s collaboration with MISA, MCIT and SAFSCP has come to a whole new level, which could potentially boost the Kingdom’s gaming sector and cement the Kingdom’s position as a gaming hub in the MENA region, said Jerry Li.
Both ministers Al Falih and Alswaha noted the deal is a new sign of Saudi attraction for digital businesses and of its increasingly sound environment for foreign investments.
The Kingdom aspires to support its gaming and entertainment industry with the launch of Vision 2030. By offering incentives such as tax support and other measures, Saudi Arabia has successfully secured OneMT’s commitment to relocate its regional headquarter to the Kingdom and consummate its IPO in Tadawul within the agreed period.
These incentives will support OneMT to localize game studios, train local talents, boost Saudi strength and increase R&D expansion.
As OneMT’s investor and strategic partner, eWTPA has become a promoter of its collaboration with Saudi ministries since its chairman’s first visit to the Kingdom in 2020, Li said.
The past two days has seen about 35 initial agreements and memoranda of understanding inked between Chinese and Saudi partners with billions of total investment.
Uncle, I think that China got an alternative to Pakistan in the form of Saudi Arabia. By which China will now control the whole world of Islam which was throwing Pakistan until 8 months ago.
The right to be angry at being sided with China has also been taken away from us because China has sided with Pakistan too much.But the poor people of our country did not stop from the habit of lying down in front of America, due to which the ice can melt by claiming high friendship from the Himalayas.
It is heard that China will now adopt the approach of using Pakistan like America. When the need arises, the life will be the liver, if the work is completed, then the curse He will beat and ask to stand in a queue. Because there is no time to be patient. And no one knows the value of time better than China. And China is not a nation that cheats again and again. Living with everyone to the same extent is an important part of their policy. But there is never any limit for Pakistan. But now I regret it.