Chinese investors at the investment environment promotion and docking meeting learn about investment trends in Saudi Arabia.  [Photo/WeChat account: pdnews]

A promotional meeting for the investment environment in Saudi Arabia was held at the Shanghai Center on Oct 19.

Nearly 100 representatives from the fields of finance, energy, trade, law, automobiles and other industries and industry associations attaneded the event, which sought to encourage Chinese companies to capitalize on opportunities created by the Belt and Road Initiative (BRI) in Saudi Arabia.

During the meeting, eWTP Arabia Capital, in cooperation with the Riyadh office of SLFCA and Cailian Press, launched the 2023 Saudi (Middle East) Investment Environment White Paper, which serves as an investment guide for companies and investors interested in entering the Saudi market.

The white paper points out that Saudi Arabia's transition towards economic diversification will result in approximately 88 sub-industries crearting 2 trillion yuan ($273.2 billion) worth of investment opportunities by 2035.

This year marks the 10th anniversary of the proposal of the BRI. Saudi Arabia was one of the first countries to support and participate in the BRI. The Middle Eastern country has in recent years made significant investments in China. 

Global giants such as SABIC, a Lujiazui-based petrochemical company that is ranked among the top five in the world, as well as Saudi Aramco, the world's largest oil production company and the sixth-largest oil refiner, have both seen rapid growth in the Pudong New Area.