- May 23–24, 2024, saw the Sino-Gulf Cooperation for Industries and Investments Forum held in Xiamen, China.
- The Saudi Arabian delegation to the event was led by Minister of Investment Engineering Khalid bin Abdulaziz Al-Falih.
- The minister talked about the Kingdom's Vision 2030 to draw in investments and financial flows, and stressed the potential for cooperation between China and the Gulf Cooperation Council (GCC) to develop economic and investment prospects.
The first Sino-Gulf Cooperation for Industries and Investments Forum was held in Xiamen, China on May 24, 2024. The event was held from May 23–24. Saudi Arabia's Kingdom was present at the function. The Minister of Investment Engineering, Khalid bin Abdulaziz Al-Falih, was in charge of guiding the group that represented the Kingdom. There were representatives from the public and commercial sectors on this team.The minister emphasized the benefits, strategic elements, and economic resources that the Gulf Cooperation Council (GCC) member nations share during the occasion.
He underlined how cooperation between China and the Gulf Cooperation Council (GCC) might lead to previously unheard-of investment and economic prospects. With a combined GDP of $2.2 trillion, or 65% of the Middle East's GDP, the minister emphasized the importance of the Gulf Cooperation Council (GCC) nations cooperating to create an integrated market with a promising future.
The minister led a conversation about the Kingdom's Vision 2030, which seeks to bring in financial inflows and investments totaling up to $3 trillion by 2030, with substantial benefits for a variety of economic sectors. He stressed that the Kingdom's dedication to the expansion and development of the economy is reflected in these opportunities.The Kingdom and China have a strong trading connection, as the Minister of Commerce noted. He forecast that in 2023, trade will reach SAR362 billion, the highest amount since 2014.
Furthermore, he witnessed a notable surge in the quantity of direct Chinese investment in the Kingdom, rising by 5.1% in 2022 compared to the year before and by 37.3% compared to 2018.The minister explored ways to improve and grow investment ties in bilateral talks with senior officials from prominent Chinese government organizations and businesses.
