The Boao Forum for Asia has wrapped up its regional meeting in Saudi Arabia. It is Riyadh’s second consecutive year to host the meeting. CGTN’s Adel EL Mahrouky talked to the CEO of Saudi petrochemical giant SABIC, who praised the forum’s role in strengthening cooperation with China.
ADEL EL MAHROUKY, Riyadh, Saudi Arabia “So how is it significant for Saudi Arabia to host it for the second consecutive year?”
ABDULRAHMAN AL-FAGEEH, CEO and BFA Board Member, SABIC “Yeah. First of all, I think it’s an opportunity for our Asian partners to come and to see what is in Saudi Arabia. There’s a lot of opportunity that it will attract. It is one of the largest growth in terms of GDP, in addition to the opportunities that so many opportunities in all aspects: in building and constructions, in healthcare and, you know, electronics and all the sectors that it is available for them to invest here as well as also it will give an opportunity for a partnership because this is what the most important thing is, the partnership between the Asian, mainly Chinese and the Saudi.
ADEL EL MAHROUKY, Riyadh, Saudi Arabia “How do you evaluate the China and Saudi Arabia commercial and trade cooperation? And how do you assess SABIC’s collaboration and partnership with the Chinese Counterpart?”
ABDULRAHMAN AL-FAGEEH, CEO and BFA Board Member, SABIC “SABIC has entered into the China market for more than 30 years and we were one of the first global pioneers who have entered into the market. So we entered in China market as project distributors for many years. But this has been evolving into providing solutions and technological solutions into the challenges that the industry is facing. So we partner with Sinopec in Tianjin for one of the most and largest petrochemical complex in Tianjin. Now also we are under construction of also another one of the largest petrochemical complex in Fujian. In the Fujian, there is about 16 units and 12 new technologies. Out of these 12 technologies, nine is provided by SABIC. It is a joint knowledge, joint technology, joint innovation in the solution that we are providing to the market.”
ADEL EL MAHROUKY, Riyadh, Saudi Arabia “How do you view China’s recent economic policies and broader business environment? And in what ways is China priority for SABIC’s investments?”
ABDULRAHMAN AL-FAGEEH, CEO and BFA Board Member, SABIC “Actually, look, I mean, in terms of priorities, the kingdom of Saudi Arabia is a priority for us in terms of investment. Second, we are a global company that we look where is the opportunity that we can find. And we found that the Asia is the largest, you know, growth region that we need to have focus on and China, we are part of it. We are part of the China economy. We are part of China. And we have seen that a lot of policies in the China has been evolved, has been improving in the last decade.”