Saudi-Chinese joint ventures expected to be formed during king’s visit

Saudi-Chinese joint ventures expected to be formed during king’s visit
Abdullah Al-Meleihi
Updated 04 March 2017

Saudi-Chinese joint ventures expected to be formed during king’s visit

Saudi-Chinese joint ventures expected to be formed during king’s visit

RIYADH: Top Saudi businessmen have expressed optimism that joint ventures or partnerships could be formed with Chinese counterparts during King Salman’s visit.
Sheikh Abdullah Al-Meleihi, board member of the Council of Saudi Chambers of Commerce and Industry, said 65-70 businessmen will join the king’s entourage during his trip, and they are looking forward to forming industrial partnerships with Chinese counterparts.
He said King Salman is expected to visit China, the world’s second-biggest economy, in mid-March. From there, he will proceed to Japan, Brunei and Jordan, where he will attend the Arab League Summit. Last Thursday he was in Indonesia, and before that Malaysia.
“King Salman is giving a strong message to different countries that the Kingdom welcomes investors,” said Al-Meleihi, adding that in support of this, the Kingdom announced recently that it is studying giving visas to foreign investors in 24 hours.
He said the China visit will give King Salman the opportunity to promote Saudi Aramco’s initial public offering (IPO) in 2018. He added that it is the world’s biggest IPO, involving 5 percent of Saudi Aramco and worth $2 trillion, and it is attracting government funds as well as international banks.
Yasser Al-Harbi, a member of the Saudi-Chinese Business Council, said the visit “comes at a crucial time as the Kingdom carries out its Vision 2030 plan.”
Saudi Arabia is attracting investors in relation to it. The Saudi leadership is seeking partnerships with international players in all fields.”