Skytower Investments Ltd. is honored to announce the execution of a Memorandum of Understanding (MOU) with, Chery Automobile Company Ltd., of Beijing, PRC and both The Ministry of Investment (MISA) and the National Industrial Development Center (NIDC) of the Kingdom of Saudi Arabia. Under the leadership of the two key Saudi policy and economic development innovators of the Kingdom’s Vison 2030 both entities have helped enable this globally important step for the future of the Saudi people and their future economic opportunity and well-being.
Skytower Investments Chairman, Neil Bush noted, “on behalf of both Chery and Skytower as recipients of the hard work and cooperation of both MISA and NIDC; both Chery and Skytower, are confident that this is the first step to expanding the opportunities available to all in the Kingdom to grow in new dimensions of prosperity and personal achievement! “It is noteworthy that the Kingdom has developed robust plans, such as represented by Chery for new economic development alongside the traditional sources of the Kingdom’s prosperity,” said Skytower’s Chief Executive Officer, Eric Fang. “
“Both MISA and NIDC can be justly proud of their joint efforts to land such a globally capable advanced manufacturing powerhouse in the Kingdom through their willingness to see, evaluate and support such a new opportunity as Chery for domestic employment, engineering knowhow and ultimately significant export opportunities in the MENA region,” Chairman Bush further added.
“The Kingdom of Saudi Arabia has shown, in a dramatic fashion, with its support of Chery that creating opportunity and prosperity for its young and vibrant population can and must also recognize the needs of the environment, people and new paths for personal achievement,” CEO Fang observed, “a true balance worthy of wise statesmanship.” “What I will call the “Chery” model sets a standard of fair and mutually beneficial partnership between national and commercial interests that benefit all and also serve all,” Chairman Bush concluded.
