Saudi investment official: China is a strategic partner as Kingdom targets joint industries

Dr. Saad Al-Shahrani, Deputy Minister for Economic Affairs and Investment Studies at the Ministry of Investment, took part in the Saudi Arabia–People’s Republic of China Strategic Investment Dialogue during the Select Financial Markets Forum in Shanghai, organized by Saudi Tadawul Group.

Dr. Al-Shahrani emphasized that China is a strategic investment partner for Saudi Arabia, noting that the coming phase will see deeper mutual investments and stronger industrial partnerships, as well as the development of value chains serving the Kingdom, the region, and global markets.

He invited Chinese companies to seize the opportunities available in Saudi Arabia and contribute to building the next generation of industries, stating that the Saudi-Chinese investment partnership will focus on investment, construction, innovation, and shared growth. He affirmed that Saudi Arabia combines stability, opportunity, and growth.

Significant economic and investment transformation

The Deputy Minister reviewed the economic changes Saudi Arabia has experienced since the launch of Vision 2030, highlighting that the Saudi economy has doubled in size over the past decade, with domestic investment also doubling and the private sector’s contribution increasing twofold.

Al-Shahrani pointed out that the stock of foreign direct investment in the Kingdom has doubled, with inflows rising nearly fivefold, and the number of foreign companies operating in Saudi Arabia increasing more than tenfold. He also noted that women’s participation in the workforce has doubled, while the unemployment rate among Saudi citizens has dropped by 50%.

Non-oil investment and quality opportunities

Al-Shahrani explained that non-oil domestic investment now accounts for around 40% of non-oil GDP, placing Saudi Arabia second among G20 countries after China. He added that the National Investment Strategy has surpassed its annual targets, and the Kingdom has entered the world’s top ten in the Foreign Direct Investment Confidence Index.

He said investor confidence is reflected in business expansion, reinvestment, and long-term commitments, stressing that Saudi Arabia creates investment opportunities rather than waiting for them.

He noted that Vision 2030 has led to the emergence of new sectors in tourism, mining, manufacturing, logistics, technology, and the digital economy, making investment a key driver of growth.

Focus on quality of future investments

Al-Shahrani stated that the next phase will focus on attracting higher-quality, more productive investments, with a shift toward measuring the economic impact of investment through its contribution to GDP, increased productivity, technology transfer, high-quality job creation, and export growth.

The Deputy Minister concluded by inviting Chinese companies to participate in building the industries of the future in Saudi Arabia, the region, and globally.