Saudi Gazette report

RIYADH — Minister of Investment Eng. Khalid Al-Falih emphasized Saudi Arabia’s commitment to linking the Arab world with China and further promoting investments in the countries of the region.

The gross domestic product (GDP) of Arab countries exceeded $3.5 trillion, he said while noting that one third of which is in Saudi Arabia.

Al-Falih made the remarks on Sunday while addressing the 10th edition of the Arab-China Businessmen Conference. He said the conference reflects Saudi Arabia’s keenness on strengthening relations with China.

The minister revealed that the foreign direct investment in China recorded a growth of 20 percent annually over the past decade, of which the share of Arab countries stood only at around $ 23 billion.

“Through the conference, we are working to launch a new modern Silk Road that is driven by the Saudi Vision 2030 for cooperation and partnership, and the fuel for its launch is our youth and our innovations to achieve our interests as well as that of our partners all over the world,” he added.

The business forum, which will conclude on Monday, is being held under the patronage of Crown Prince and Prime Minister Mohammed Bin Salman.

Foreign Minister Prince Faisal Bin Farhan inaugurated the conference, organized by the Ministry of Investment, in partnership with the Arab League.