Saudi Investment Minister Khalid Al-Falih announced the signing of an agreement between Huawei and the "Caden Investment" company in Saudi Arabia, to open the largest Huawei flagship store outside China in Riyadh.

Al-Falih said in a tweet on his Twitter account, Friday, that this is an important step in Huawei's investment journey in Saudi Arabia.

He pointed out that the agreement is the result of continuous cooperation between the Ministry of Investment and the Ministry of Communications and Information Technology, aimed at attracting, enabling and supporting investments in the communications and information technology sector.
The Saudi Ministry of Investment stated, in a statement Friday, that the agreement will allow the Chinese company to directly access consumers in light of the increasing demand for digital products and services in Saudi Arabia.

She added: Saudi Arabia expects to increase the use of the Internet from coverage of 73.2% of the population in 2017 to 82.6% in 2022.
Last December, the Communications and Information Technology Commission signed 3 memoranda of understanding in the fields of communications and information technology with major global telecommunications technology providers: Ericsson, Nokia, and Huawei.
The agreements aim to support and enhance the authority’s plans and objectives in enabling Saudi Arabia’s digital transformation and localizing technologies in accordance with the latest international practices.