Chinese investors attend Saudi Aramco business forum

Saudi Aramco, Saudi Arabia’s national oil company, recently hosted a two-day forum in the Chinese financial hub of Shanghai in hopes of boosting Chinese investment in the Gulf nation.

The forum, which promoted Saudi Arabia’s three newly developed industrial platforms of Jazan Economic City, Al-Hasa Energy Industrial City and Ras Al-Khair Industrial City, gave over 150 Chinese manufacturers and investors a picture of the sustained investment opportunities available in Saudi Arabia. Attendees also had the opportunity to explore closer partnerships with Saudi Arabia’s energy sector.

“Chinese investment is welcome in Saudi Arabia, and there are plenty of opportunities for Chinese companies in the country, in both energy and non-energy sectors,” Aramco Asia President Nabil Al-Nuaim said. “There have been successful investments by Chinese partners in Saudi Arabia. Sinopec invested in a world-class, full-conversion export refinery located on the west coast city of Yanbu’ by the name of Yasref. We stand ready to promote economic cooperation.”

Al-Nuaim outlined a list of advantages derived from investing in Saudi Arabia, including the nation’s strategic location as well as its history and role as China’s largest and most reliable energy supplier.

Many large Chinese businesses from both the public and private sectors have already made large investments in Saudi Arabia. Companies including Huawei, China Railway Construction, China Harbour and SANY are already operating in the Gulf nation.