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2021-12-15

Mohammed Al-Ajlan, Deputy Chairman of Ajlan & Bros Holding Group Abilitii and Chairman of the Saudi-Chinese Business Council, delivered a keynote speech at the COIFAIR 2021 Serial Forums / Promotion Meeting of Investment and Cooperation for Specific Countries and Regions

The COIFAIR (China Overseas Investment Fair) 2021 Serial Forums, which also served as the Promotion Meeting of Investment and Cooperation for Specific Countries and Regions, hosted by China Overseas Development Association, were held in Beijing today. Mohammed Al-Ajlan, Deputy Chairman of Ajlan & Bros Holding Group Abilitii (ABHGA) and Chairman of the Saudi-Chinese Business Council, was invited to deliver a speech on forging new opportunities and cooperation to the background of the emergence of decarbonization initiatives.

The forum this year was themed "New Trends of International Investment and Cooperation under Carbon Peak and Carbon Neutrality goals". With the aim of meeting the “Dual Carbon” goals (strive to peak CO2 emissions before 2030 and achieve carbon neutrality before 2060) and accelerating the construction of China’s new development paradigm, the forum attracted foreign ambassadors, international organization representatives, heads of local governments and departments, experts from industrial, academic and research circles, as well as leaders from enterprises and financial institutions, providing a platform through which to jointly explore new initiatives and collaborations on restoring the global economy.

With the establishment of the China-Saudi Arabia comprehensive strategic partnership, engagements on green economic initiatives between the two countries have heated up recently and are opening vast space for relevant cooperation. In his speech, Sheikh Mohammed called on the international community to strengthen coordination and aid a sustainable global recovery in accordance with the World Economic Outlook report recently released by the International Monetary Fund. He also fully confirmed the brilliant contributions and corresponding responsibilities of China and Saudi Arabia for promoting green development and the UN 2030 Agenda for Sustainable Development.

In 2020, China announced its “Dual Carbon” goals, while in October this year, Saudi Arabia also announced a series of initiatives to implement the concept of a circular economy, and set the goal for the country to achieve net-zero carbon emissions by 2060. Sheikh Mohammed specifically stated that Saudi Arabia is a major energy producer while China is a major energy consumer. As important members of the G20, both Saudi Arabia and China are committed to boosting the development of clean and renewable energy, and actively advancing international cooperation. "Through this approach both countries can set a good example for the international community on working together for green, low-carbon development, as well as jointly addressing the various challenges and global issues facing humanity." he added.

In recent years, leapfrog development has been seen in China-Saudi bilateral economic and trade cooperation. Against this backdrop, China has become Saudi Arabia's largest trading partner in the world, while Saudi Arabia is China's largest trading partner in West Asia. "Both the Saudi-Chinese Business Council and Ajlan & Bros Holding Group Abilitii continue to tirelessly work to promote the alignment of The Belt and Road Initiative and Saudi Vision 2030 in support of bilateral partnerships." Sheikh Mohammed said.

ABHGA is the largest Saudi private sector conglomerate in China. Based on its long-standing heritable development in China, as well as strong capital & financing capabilities and abundant local market resources, the group is committed to empowering Chinese business partners to go abroad and spot opportunities in the MENA region, where the group has already collaborated with SF Express, Swiftpass, Tencent Games and many other leading Chinese companies from various fields around investment and operation.

Looking optimistically towards the ever-expanding universe of cooperation, Sheikh Mohammed emphasized that ABHGA will continuously play the role of Gateway to MENA, to better facilitate seizing investment opportunities in the region and beyond, effectively paving the way for more China’s enterprises to enter and grow into market leaders.