Yida Capital has announced a strategic partnership with Saudi National Bank to provide comprehensive financial solutions for its partner enterprises and those in the newly established Saudi-China Special Economic Zone. This collaboration aims to eliminate financial barriers in China-Saudi business partnerships and foster industrial integration between the two nations.
Under this partnership, Saudi National Bank will offer tailored banking services to Yida Capital's portfolio companies and Chinese collaborators operating in Saudi Arabia. The bank will be recommended as the primary banking partner for these enterprises to ensure efficient service delivery within the kingdom.
The Saudi-China Special Economic Zone, set to commence construction in 2025, is a joint initiative between King Salman International Airport and Yida Capital. Spanning 4 square kilometers, this zone will feature logistics, light industrial parks, international trade areas, and residential facilities.
According to Jessica Wong, Founding Managing Partner of Yida Capital, the collaboration is strategically significant. It will expedite key economic transformation projects in Saudi Arabia, including the development of the Saudi-China Special Economic Zone. With customized banking support from Saudi National Bank, essential funding and resources will be secured to drive regional economic growth.
Capitalizing on the strengths of Saudi National Bank's financial services and Yida Capital's cross-border resource network, the partnership will unlock more strategic cross-border investment opportunities.
