Robert Mogielnicki, senior resident scholar at the Arab Gulf States Institute in Washington, said one key reason for Saudi-Chinese linkages strengthening is that the Arab country is looking for major growth areas via international partnerships.
“The calculation here is that there (is) much to gain from more cooperation with China,” he said.
“Chinese technology firms have read the writing on the wall and see the Saudi Vision 2030 transformation agenda as an invitation for longer-term commercial engagement with Saudi customers.”
For the upcoming conference, Chinese entrepreneurs in attendance represent a range of industries – from renewable energy and artificial intelligence to biotech, finance and tourism.
According to Edison Gao, China-based group vice president of Saudi conglomerate Ajlan & Brothers, the attitude of Chinese enterprises towards expanding in the Gulf state has also undergone “tremendous changes”.
“I’ve never seen Chinese companies being so interested in and committed to the Saudi market,” said Gao, who joined Ajlan in 2017 and has since been helping attract Chinese firms to expand locally.
“Previously, I had to actively pitch Chinese companies to consider Saudi Arabia as their destination of outbound investment and overseas expansion. But it’s the other way around recently, I’ve received many business proposals from them.”
Source: CNA
