- Hosted by Saudi Arabia’s Ministry of Investment and the Ministry of Foreign Affairs, the forum aims to strengthen trade relations between China and the Arab world.
- This year’s conference is anticipated to be the largest Arab-Chinese business event, with more than 2,000 attendees.
- High-level government and private sector speakers from two dozen countries will explore mutually beneficial investment opportunities across key economic sectors.
- Trade between Arab nations and China saw a 31% increase from 2021 to 2022, totaling over US$430bn.
Beirut, May 30, 2023: Saudi Arabia’s Ministry of Investment and Ministry of Foreign Affairs are preparing to host the 10th Arab-China Business Conference and the 8th Investment Symposium from June 11-12 in Riyadh. This year’s conference is anticipated to be the largest of its kind, with more than 2,000 attendees.
Under the theme “Collaborating for Prosperity,” the two-day forum will see participation by senior government representatives and global business leaders from a dozen countries, and will explore the next frontiers of trade and investment cooperation between Saudi Arabia, the People’s Republic of China and the Arab region.
Held in partnership with the General Secretariat of the League of Arab States, the Chinese Council for the Promotion of International Trade and the Union of Arab Chambers of Commerce, the conference will enable attendees to foster mutually beneficial business opportunities through plenary sessions, bilateral meetings, sector deep dives and panel discussions.
Reflecting on the significance of the event, His Excellency Khalid Al-Falih, Minister of Investment of Saudi Arabia, stated: “Trade and cultural ties between Arab countries and the People’s Republic of China extend over 2,000 years, but have deepened significantly given the complementary nature of our economies in sectors critical to the global economy. The Arab-China Business Conference will enable public and private sector participants to discuss the future of these collaborations.”
“China’s strategic direction aligns with the Kingdom’s Vision 2030. In recognition of the importance of leveraging each region’s strengths, we look forward to the conference providing a forum to explore mutually beneficial opportunities.”
This year’s conference will examine several sectors key to the Arab-China trade and investment relationship including construction, logistics, financing, manufacturing, mining, minerals and petrochemicals.
The event will also explore emerging areas of shared interest such as tourism, entrepreneurship, e-sports and Saudi Arabia’s recently launched Special Economic Zones (SEZs), which aim to welcome FDI in nascent and mature industries.
Trade in 2022 between the Arab countries and China reached SAR1.6trn (US$430bn), a 31% increase over 2021. Relations are set to further accelerate as a result of the Arab-China Business Conference, with several memoranda of understanding and agreements expected to be signed.
Saudi Arabia is the leading trade partner with China among Arab countries, constituting nearly 25% of the total volume of trade. Trade between the countries totaled around SAR400bn (US$106 billion), a 30% increase over 2021.
About the Ministry of Investment
The rapid economic growth and diversification of Saudi Arabia’s economy under the Vision 2030 plan is unlocking foreign direct investment (FDI) opportunities at an unprecedented pace. The Ministry of Investment of Saudi Arabia (MISA) is facilitating access to these opportunities by nurturing a vibrant cross-government investment ecosystem.
MISA coordinates across the Saudi government to create a competitive investment environment that provides stability and clarity for investors. It does so by spearheading business friendly policies and regulatory reforms, creating investment incentives, facilitating investment data, opening investment opportunities across diverse sectors, and supporting Saudi companies to partner with and attract investment from foreign counterparts.
MISA is responsible for overseeing the implementation of Saudi Arabia’s National Investment Strategy (NIS), an ambitious plan launched in October 2021 to make private sector investors – both local and international – true partners in development, with state investment helping to de-risk, enable and ‘crowd-in’ investment. The NIS aims to triple investment, increase FDI from SAR 17bn to SAR 338bn, and grow investment as a percentage of GDP to 30% by 2030.
About Invest Saudi
Overseen by Saudi Arabia’s Ministry of Investment (MISA), Invest Saudi is the entity charged with promoting Saudi Arabia as a world-class investment destination; communicating opportunities to prospective investors around the world; attracting investors; and enhancing the investor experience.
Invest Saudi is the primary point of contact for foreign investors seeking information and assistance before, during and after their entry into Saudi Arabia. Through a network of representative offices across the world, Invest Saudi partners with businesses of all scales and sizes—from startups to blue-chip multinationals—to help make investing in Saudi Arabia a seamless experience.
Invest Saudi focuses on exciting opportunities across sectors including:
- Agriculture & food processing
- Real estate
- Healthcare & life sciences
- Financial services
- Environment services
- Transport & logistics
- Human capital innovation
- Industrial & manufacturing
- Mining & metals
- Pharma & biotech
- Tourism & quality of life
- Aerospace & defense