Machinery, materials, industrial development and supply chains
Bureau Veritas (China) and Pacific Gas signed a strategic technical consulting agreement in Shanghai to support liquefied gas carrier retrofits. The partnership focuses on safety compliance, technical routes, and commercial deployment for Very Large Ethane Carriers and dual-fuel vessels. The initiative targets green maritime transitions across global and Gulf energy trade lanes.
China-based Fangda Group announced that its 51%-owned joint venture secured a major curtain wall contract for the Prince Mohammed bin Salman Stadium in Saudi Arabia. Valued at 1.147 billion Saudi riyals (approx. 2.05 billion yuan), the contract spans 863 days. The deal accounts for roughly 60.7% of the group's audited total revenue for 2025.
Chinese vehicle manufacturers including BYD, Geely, and Li Auto are expanding dealership networks and distribution partnerships in the UAE and Saudi Arabia. In 2025, electric and plug-in hybrid vehicles represented approximately 9% of new-vehicle sales in the UAE, which accounted for an estimated 42% of the GCC electric vehicle market.
The UAE has revised value-added tax rules governing input tax deductions, narrowing the scope of recoverable employee-related expenses and cash purchases. The new framework took effect on October 1 following guidance published by the Federal Tax Authority on September 28. Tax experts note that labour-intensive companies face heightened compliance procedures and potentially hundreds of thousands of dirhams in added annual costs.
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