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Saudi Arabia launches nine key research projects on foreign investment industry - Saudi industry ser

Date: 2019-08-13
BrowsingS: 1
Source: 驻沙特阿拉伯使馆经商处
Author:
Release date: 2019-08-13
BrowsingS: 1

1. Consideration of Saudi Arabia's Promotion of Nine Key Foreign Investment Investment Industries

(1) Promoting economic transformation and promoting economic growth

In April 2016, Saudi Arabia officially released Vision 2030. In this programmatic document of the economic and social development guidelines of Saudi Arabia in the next 15 years, it is proposed that Saudi Arabia will develop a pluralistic economy and get rid of the 'oil price cycle trap' through economic transformation. Saudi Arabia proposes that by 2030, the GDP share of FDI will be increased from 3.8% to 5.7%. Attracting foreign investment in these areas will bring Saudi Arabia a large amount of foreign investment, which will help to achieve the systematic upgrading from trade to investment with its major trading partners and achieve the above objectives.

(2) Establishing a complete industrial system through external efforts

Saudi Arabia has established a complete petrochemical system with the help of European and American countries, but its domestic industrial system is not sound. For a long time, Saudi Arabia has relied heavily on imports to meet the needs of production and living goods. Since the '2030 Vision' was promoted, Saudi Arabia has increasingly realized the importance of gradually establishing a complete industrial system. However, owing to its insufficient human resources, technological capabilities and supporting foundation, and its high starting point and quality requirements for industrial construction, Saudi Arabia has to turn to foreign capital to seek new energy, agricultural and aquatic products, medical and health care, and transportation products. In the construction of industries such as flow and information and communication technology, the above-mentioned areas have been listed as the key areas for foreign investment.

(3) Developing a pluralistic economy in response to the requirements of social and cultural reform

Saudi Arabia proposed to implement economic and social reforms in Vision 2030. Last year, the Crown Prince proposed that in order to satisfy these requirements, it is necessary to develop the corresponding industries. Therefore, the Shafang listed recreational sports, digital media and tourism as the key areas for foreign investment.

(4) Creating Employment Opportunities and Providing Learning Platform

In the Vision 2030, Saudi Arabia proposes to reduce the unemployment rate from 11.6% to 7% by creating a large number of jobs and replacing foreigners with its own people. To carry out foreign investment in the above areas will not only help Saudi Arabia achieve the above objectives, but also help its local staff learn foreign advanced experience and technology.

Saudi Arabia launches nine key research projects on foreign investment industry - Saudi industry ser

Second and Nine Areas Provide Opportunities for Directional Docking of Sino-Saudi Industries

The investment cooperation in the nine fields has provided many opportunities for Chinese funded enterprises, and also provided me with these fields as a support to provide a rare opportunity for China and Sha to build a solid 'one belt and one road'.

In the field of new energy, I can give full play to my advantages and participate in the whole industrial chain from polysilicon and fan to system design and operation management. In the field of agriculture and aquatic products, I can give full play to my technical advantages and participate in the technical cooperation of grain storage and transportation, agriculture and aquaculture, deep processing of agricultural products and aquatic products, and low-water cultivation in desert. To help Saudi Arabia reduce its dependence on food; in the field of medical and health care, I can export traditional Chinese medicine and participate in pharmaceutical and medical equipment manufacturing; in the field of transport logistics, I can participate in investment cooperation in transportation infrastructure construction and special vehicle refitting; in the field of information technology, I can carry out the construction of mobile network system. Establishment, ICT system development and application, personnel training cooperation; in the field of recreational sports and digital media, tourism and pilgrimage, I can carry out facilities construction, project management, personnel training and other service cooperation.

In order to accurately locate China-Saudi economic and trade pragmatic cooperation, the business office of the Embassy in Saudi Arabia carries out a detailed analysis around various fields one by one, focusing on the development status and market opportunities of the above-mentioned industries stationed in Saudi Arabia for enterprises to explore the Saudi market for reference.


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