The 8th Future Investment Initiative Conference was held in Riyadh, the capital of Saudi Arabia, from October 29th to 31st. Chinese and Saudi business figures stated in an interview with Xinhua News Agency that the two countries have complementary advantages in energy, infrastructure, digital economy and other fields, and have broad prospects for investment cooperation.
On October 31st, in Riyadh, the capital of Saudi Arabia, people attended the 8th Saudi “Future Investment Initiative” conference. Photo by Xinhua News Agency reporter Sui Xiankai
In recent years, cooperation in the investment field between China and Saudi Arabia has continued to grow, with the Saudi Public Investment Fund, Saudi Aramco, Saudi Basic Industries Corporation, and many Saudi private enterprises investing in China. Meanwhile, more and more Chinese companies are conducting business in Saudi Arabia.
During the “Future Investment Initiative” conference, a subsidiary of Saudi International Power and Water Company and the Lujiazui Management Bureau of China (Shanghai) Pilot Free Trade Zone signed an agreement to establish a global innovation center in Shanghai. Lv Yunhe, Executive Vice President and General Manager of Saudi International Power and Water Company in China, stated that the company focuses on areas such as renewable energy, green hydrogen energy, and seawater desalination, and that Chinese supply chain enterprises in these fields have advanced technology and competitive solutions, complementing each other’s strengths and achieving win-win cooperation.
He said that Saudi Arabia is undergoing industrialization and modernization, while China has a complete industrial supply chain system. “Not only in our industry, but also in fields such as electric vehicles and mining, there is increasing cooperation between companies from both countries.
On October 31st, in Riyadh, the capital of Saudi Arabia, people attended the 8th Saudi “Future Investment Initiative” conference. Photo by Xinhua News Agency reporter Sui Xiankai
Yang Zhiyuan, General Manager of China Harbour Middle East Regional Management Center, said that Saudi Arabia has been making efforts to attract foreign investment in recent years by introducing new investment laws, establishing a series of economic zones, reforming policies and regulatory frameworks, and continuously improving the business environment. With the advancement of Saudi Arabia’s “2030 Vision”, Saudi Arabia is playing an increasingly important role in the global market.
He stated that the future investment cooperation between China and Saudi Arabia has broad prospects and enormous potential, with great potential for cooperation in various fields such as infrastructure, transportation, logistics, new energy, digital economy, and advanced manufacturing.
Mohammed Al Ajlan, Vice Chairman of Saudi Arabia’s Ajlan Brothers Holdings Group and Chairman of the Saudi China Business Council, said that China has advantages in infrastructure, energy resources, green development, digital economy and other fields, and Middle Eastern countries and enterprises share the development dividends in cooperation with China. Meanwhile, in addition to traditional oil and gas trade, characteristic agricultural products from Arab countries are entering the Chinese market through e-commerce platforms.
He said that Agiland Brothers Group hopes to further seize the development opportunities brought about by Chinese path to modernization and close investment exchanges with China.
Chen Debin, Executive General Manager of China Railway 18th Bureau Group International Company and General Manager of Saudi Arabia Company, believes that Saudi Arabia will host a series of large-scale sports events such as the 2027 Asian Cup, which will bring unprecedented opportunities for infrastructure construction and tourism development. Chinese and Saudi enterprises have great potential for cooperation in these areas.