PR100374

GUANGZHOU, China, Sept. 28, 2023 /Xinhua-AsiaNet/--

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.

Source: Guangzhou Development District

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   Caption: Guangzhou Development District holds 2023 Saudi (Jazan) Special Investment

Promotion and Exchange Forum.