Jointly Promote the Matchup of the Belt and Road Initiative and the Vision 2030 for Pragmatic Results
The China-Saudi Arabia Investment Cooperation Forum Held Successfully in Beijing
Vice Chairman Ning Jizhe of National Development and Reform Commission and Minister of Al-Falih pf Energy, Industry and Mineral Resources and Minister of Trade and Investment held high-level dialogue
On the 22 of February, during the visit of the Crown Prince of Muhammad to China, the International Cooperation Center of National Development and Reform Commission and the Saudi Investment Bureau convened the China-Saudi Arabia Investment Cooperation Forum in Beijing. The Forum is an important event in implementing the consensus reached between leaders of both countries and aims at promoting the matchup of the Belt and Road initiative and Saudi Arabia’s Vision 2030. It attracted more than 1300 people from relevant government departments, companies, financial institutions and business associations of China and Saudi Arabia and participants had high-end dialogues, project promotion and matchup in different fields with a relation to the Belt and Road and Vision 2030. 35 cooperation agreements have been signed and greater achievement made on the practical cooperation between China and Saudi Arabia.
01Minister's high level dialogue
Minister's high level dialogue
At the Minister Dialogue, Vice Chairman Ning Jizhe of National Development and Reform Commission and Minister of Al-Falih pf Energy, Industry and Mineral Resources and Minister of Trade and Investment, as Heads of the China-Saudi Arabia Belt and Road Cooperation and the Major Investment Cooperation Project and Energy Cooperation Mechanism, conducted high-end dialogue on the cooperation base of the matchup of the Belt and Road and Vision 2030, effective approaches and relevant support. Director General Huang Yong of ICC chaired the meeting. Ning said, under the framework of China-Saudi Arabia High Commission mechanism, both sides have developed pragmatic cooperation in a host of areas regarding the Belt and Road and Vision 2030. For the sake of further exploring the potential of the two countries for production capacity and investment cooperation and continuously enriching the contents and outputs of the current cooperation, he made 4 suggestions: (1) accelerate the implementation of the outputs from the China-Saudi Arabia High Commission and promote the matchup and execution of the Belt and Road and Vision 2030; (2) enhance policy communication and promote the implementation of key production capacity and investment cooperation projects; (3) bring the role of the governmental cooperation mechanism into full play and strengthen the relation between companies, business associations, financial institutions and think tanks as so to facilitate the exchange of experience and information; (4) promote financial cooperation, enhance capital guarantee and provide support to production capacity and investment cooperation and the development of the Third-Party Market cooperation. Huang pointed out, in recent years under the guidance of the leaders of both countries, the comprehensive strategic partnership between China and Saudi Arabia has been in the best of the tomes and the two countries have remained important cooperation partner for each other. The promotion of the matchup of the Belt and Road and the Vision 2030 has resulted in a host of fruitful cooperation.
Create a quality environment and high-end dialogue
In the parallel sub-forum, representatives from the China-Saudi Arabia business community conducted policy announcements and project road shows in nine key industries, including petrochemical industry, e-commerce, smart city, future energy, transportation, education and medical care. Saudi Arabia's Ministry of Industry and Mines, Saudi Arabian Investment Administration, Saudi Industrial Development Fund and other industry leaders, detailed introduction of Saudi Arabia's investment environment, policy support and key projects, The heads of enterprises such as China's Alibaba, Shenzhen Fountain Corporation, Tencent, Huawei, CITIC and Sany Heavy Industry focused on the potential of the industry and the potential projects of investment in Saudi Arabia. Zheng Lielie, President of Shenzhen Fountain Corporation, gave a speech on clean energy and renewable energy investment and development at the Future Energy Sub-forum, which aroused strong interest from the Saudi Ministry of Industry and Mines, the Saudi Investment General Administration and other relevant departments. Both sides are in clean energy and equipment manufacturing. The cooperation reached a preliminary intention. Saudi Arabian Deputy Director of the Saudi Investment Administration, Suldan Movti, said that foreign investors can obtain business licenses within 24 hours as soon as they invest in Saudi Arabia. Business licenses can also be issued within one day. Saudi Arabia welcomes Chinese companies in energy and power, investment in manufacturing, infrastructure construction, and chemical industries.
Future energy Forum
Smart city Forum
At the forum, 3 high-end dialogues and the sub-forum for the promotion of 9 industries were held and more than 20 2B2 project matchmaking events were held and participants shared the views and information on preferential policies, investment opportunities, development prospects and etc. At the parallel forum, the business fields of China and Saudi Arabia held policy campaign regarding 9 industries including petrochemicals, e-commerce, smart cities, future energy, transportation, education and healthcare.
03 The projects have deepened and enriched the cooperation between China and Saudi
In recent years, under the framework of the China-Saudi Arabia High Commission mechanism, both sides have developed pragmatic cooperation and achieved a series of progress in various fields with the important grasp of production capacity and investment cooperation projects. Under the approval of the NDRC, ICC and the Investment Bureau of Saudi Arabia signed Cooperation Framework Agreement. And according to the agreement, both sides will develop practical cooperation in policy research, the establishment of mechanisms and platforms and project promotion so as to better serve to the Belt and Road initiative and the Vision 2030.
04 The forum demonstrates the great potential that to be released
The Forum attracted more than 2000 political and business heavyweights and made positive contributions to the joint construction of the Belt and Road and the matchup of the initiative and the Vision 2030. It also received wide media coverage and the attention of various fields of both countries.
Saudi Arabia culture