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China-Saudi Arabia Cooperation Receives Media Attention

Time:2019-03-13
 

Recently, ICC of NDRC and Saudi Arabia General Bureau of the Investment have jointly held the China-Saudi Arabia Investment Cooperation Summit Forum in Beijing to further facilitate the matchup of the Belt and Road initiative and the Vision 2030. At the forum, 35 cooperation agreements were signed with the total value of 28 billion USD. It received extensive attention from more than 80 news channels in China and Saudi Arabia, including CCTV News, Xinhua News, People.cn, a host of newspapers such as Economic Daily, China Reform Daily and etc. and the National Broadcast of Saudi Arabia.


CCTV News

Media coverage creates favorable environment for the China-Saudi Arabia cooperation in the new era

Xinhua News highlighted that in recent years, the relation between China and Saudi Arabia has developed rapidly with successful high-level visits, the establishment of comprehensive strategic partnership and the steady progress of pragmatic cooperation. The forum has sent a positive signal to investors from the perspectives of policy communication, mechanism matchup, the establishment of platforms and project promotion.


The issuing of business license to Chinese companies

The financial market of Saudi Arabia is very stable with high momentum of investment. It has provided preferential loans with low or zero interest so as to encourage more international companies to invest in different industries of Saudi Arabia and promote the diversification of the economy. Specific financing institutions have been set up and companies that invest in Saudi Arabia will receive one-stop services covering 25 different categories. Among different industries, 9 strategic industries are welcoming Chinese companies including energy, power, manufacturing, infrastructure and etc.

The forum is an innovative platform set up by ICC and the Saudi Arabia side under the China-Saudi Arabia production capacity cooperation mechanism. It aims at facilitating the communication and cooperation channels with the participation of different parties so as to promote the matchup and implementation of the Belt and Road initiative and the Vision 2030. The forum attracted more than 1300 representatives from various fields. 3 high-level dialogues were held with a focus on the promotion and matchup of key industries and potential projects with a relation to petrochemicals, e-commerce, smart cities, future energy, transportation and etc. 35 cooperation agreements were signed with the total value of 28 billion USD.

ICC is the executive agency of the China-Saudi Arabia production capacity and investment cooperation mechanism. The cooperation agreement signed between ICC and the General Bureau of Investment has identified that the two sides would develop pragmatic cooperation on policy research, the implementation of cooperation mechanism, the establishment of platform and project promotion with the production capacity and investment cooperation projects as the key task. In the future ICC will work together with relevant government departments, companies and financial institutions to further cooperation in the following areas: (1). Shape the forum into an innovative platform that serves to the China-Saudi Arabia Belt and Road and production capacity and investment cooperation mechanism; (2). Promote the establishment of the Belt and Road production capacity cooperation parks and set up new platforms for the cooperation between companies from China and Saudi Arabia; (3). Promote the establishment of the China-Saudi Arabia investment company alliance and deepen the mutual-beneficial cooperation from the up to the downstream of industrial chains; (4). Conduct research on the establishment of the Cooperation Center to better facilitate the matchup of the Belt and Road and the Vision 2030.

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