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2021-07-09

Winning future opportunities with Chinese companies

Saudi Arabia is China's largest trading partner in West Asia and Africa, and China has also been the top trading country for many years in a row. Against the backdrop of the continuous development of bilateral trade and economic cooperation between the two countries, more and more Saudi enterprises are making China their focus in overseas markets.

Ajlan&Bros Holding Group is one of the typical representatives. In cooperation with China's leading logistics company, SF International, it has established a joint venture AJEX in Saudi Arabia to introduce cutting-edge logistics technology and services; in cooperation with Chinese technology giant Swiftpass, it has established a joint venture Tiqmo to help Saudi Arabia accelerate the construction of a "cashless society". The group has also been cooperating with Tencent Games and China's top eSports teams to successfully hold Saudi Arabia's first and by far the largest eSports competition (PUBG). Since 2017, the group has been cooperating with leading Chinese companies in various industries. Enterprises cooperation step by step.

"As the largest Saudi private group in China, we have always considered China as one of the most important strategic markets. In the past 20 years, the group has set up investment offices in Shanghai, Beijing and Shenzhen, and expanded its investment territory to include financial services, consumer goods manufacturing, healthcare, education, gaming, mining, tourism and logistics," said Mohammed Al Ajlan, Deputy Chairman of Ajlan&Bros Holding Group in an interview with International Business Daily. At the same time, the Group has played a key role as a "gateway" to enable outstanding Chinese companies to go global and achieve leadership in the MENA region.

Since the establishment of diplomatic relations between China and Saudi Arabia in 1990, the deepening strategic partnership between China and Saudi Arabia has become a model of cross-regional cooperation that is widely recognized worldwide. In 2016, the Saudi government released the Saudi Vision 2030 and the National Transformation Plan, hoping to gradually diversify the economic structure through the "two-wheel drive" of economic and social reforms. In this context, Ajlan&Bros Holding Group has been accelerating its expansion into the Chinese market.

In 2020, despite the impact of the COVID-19 epidemic, Ajlan&Bros Holding Group is actively involved in industry exchanges, expanding its business into various ecological sectors such as logistics, gaming, health, energy and financial technology, and exploring investment in the MENA markets together with its Chinese business partners.

Mohammed Al Ajlan said, "The current development in China has shown us its determination and path to continuously improve its policy framework and continue to optimize its business environment, which reinforces the Group's commitment and confidence to put down roots in China for long-term development. At the same time, we are very optimistic about China's economic development prospects based on the considerable resilience that the Chinese economy has demonstrated over time and the long-term positive fundamentals that the '14th Five-Year Plan' points out."

"Going forward, we will not waver in our determination to stay rooted in China for the long term, and will also follow the industrial situation more closely and continue to increase our focus on the Chinese market. At the same time, by more fully utilizing the Group's accumulated resource advantages in China, we will reach and establish long-term and close partnerships with more Chinese companies in multiple fields and become a gateway to the Middle East and North Africa region to win future opportunities and share development dividends." So said Mohammed Al Ajlan.

It was revealed that the Group will promote the implementation of the Integrated Industrial City Project (AIIC) in support of the Saudi Vision 2030 and China's Belt and Road Initiative. The project will contribute more than 5% of non-oil GDP (about SR75 billion/US$20 billion) and will enjoy the privileges of a special economic zone, with a greater focus on Chinese manufacturers, allowing them to export freely to key regions, and will provide Chinese amenities and social infrastructure - a home away from home for Chinese expatriates.

https://epaper.comnews.cn/xpaper/appnews/616/6567/31719-1.shtml