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Guangzhou Development District holds 2023 Saudi (Jazan) Special Investment Promotion and Exchange Forum

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1 year ago

September 28, 2023

GUANGZHOU, China, Sept. 28, 2023 /PRNewswire/ — On September 25, 2023 Saudi (Jazan) Special Investment Promotion and Exchange Forum was held in Guangzhou Development District, also known as Huangpu District, situated in southern China. This exchange meeting between China and Saudi Arabia constituted the inaugural event following the visit of Guangdong delegation to Saudi Arabia in early September.

Nawaf AlWard, General Manager of the Investment Department of Jazan Royal Commission, noted that in recent years, Saudi Arabia has been steadfast in pursuing the “Vision 2030” strategy, the momentum of rapid economic development. The open foreign policy of Saudi Arabia has captivated the attention of foreign investors, particularly those from China. Therefore, the Royal Commission pledges unwavering support to assist corporations in establishing their presence and provide facilities for those on the ground.

Chen Zhiyong, Deputy Secretary of Huangpu District Committee of the CPC, articulated that the Guangzhou Development District is one of the most powerful, dynamic and efficient regions in the country. With extensive experience in investment promotion and industrial park construction, the region forms five 100-billion-level industrial clusters, including emerging information technology, automotive manufacturing, renewable energy, beauty and health, and new material, as well as three 50-billion level ones consisting of high-end equipment, biotechnology, and integrated circuits. This solid foundation is expected to facilitate the cooperation of production and energy between China and Saudi Arabia.

China-Saudi Jazan Industrial Zone, located in Jazan Industrial City in Saudi Arabia, adheres to a development strategy of “infrastructure advancement, industrial cluster, city-industry integration, and environmental protection”. This area spans 32 square kilometers, including a 30-square-kilometer industrial zone and a 2-square-kilometer residential area.

The Silk Road Industrial Services Co., Ltd. was jointly established by Guangzhou Development District, Ningxia Yinchuan Economic and Technological Development District, Royal Commission for Jubail and Yanbu (RCJY), and Saudi Aramco, responsible for attracting investment and other related work for the industrial luster zone.

Li Zhe, general manager of the Silk Road Industrial Services Co., Ltd., said that the industrial zone currently has facilities such as the Jazan Commercial Port, seawater desalination plant, and refinery. By meticulously integrating the eight pillar industries from the Guangzhou Development District with existing industry development plans of Jazan Industrial City, it targets at six predominant sectors, including metal smelting and processing, renewable energy, petrochemicals, marine wind energy equipment, intelligent home appliances, and white goods, along with the construction of specialized industrial parks within parks.

Jansson Victor Johan, Project Manager of Investment Department of Royal Commission at Jazan, also highlighted the region’s abundant natural gas, oil, and mineral resources as well as distinct cost advantages. To promote diversified economic development, special economic zones have been established in Jazan, along with a plethora of supportive policies on loans, taxes, and labor, which provide comprehensive service for foreign investors.

Xuzhuang Biotech Co., Ltd., based in Guangzhou Development District, recently signed a cooperation agreement with a Saudi agent. During this promotion event, the company’s foreign trade manager Zhang Shixian, conveyed keen enthusiasm for exploring the vast potential of the Saudi market.

Guangzhou Development District insists on a high-quality strategy for both “bringing in” and “going out”. By focusing on the development and construction of the Jazan Industrial Zone, the district maintains a high level of openness to foreign countries, actively explores new modes of international cooperation, and builds comprehensive international cooperation platforms such as China–Singapore, China–Europe, China–Russia, China–Israel, and China–Saudi Arabia relationships, to accelerate reciprocal investments.

In 2022, 76 new overseas investment projects were initiated in the Guangzhou Development District, leading Guangzhou in terms of volume. The projects encompassed a diverse array of industries, including biopharmaceuticals, supply chain logistics, and electronic equipment, and extended across 16 countries and regions. Chinese pledged investments in these projects reached $1.356 billion, accounting for over 80% of Guangzhou’s share. In 2022, the district attracted over $2.9 billion in foreign investment, with 135 Fortune 500 companies establishing 315 enterprises in the area.