From the Middle Kingdom to the Saudi Kingdom: Opportunities Abound

By Ambassador Yasser Elnaggar as featured on Yicai Global

As China's economy slows, Chinese firms are seeking new global opportunities to market their products and build their brands. While the United States and Europe have become politically challenging markets for Chinese products, the Middle East has been welcoming Chinese investment, goods and services. Within the region, the Kingdom of Saudi Arabia (KSA) stands out as a burgeoning opportunity for firms from the Middle Kingdom.

Under the leadership of Crown Prince Mohammed Bin Salman, the KSA has begun to significantly liberalize and open-up its economy, reminiscent of China’s own journey in the 1980-90s of “gaige kaifang” or “reform and opening-up.” Historically reliant on oil exports, Saudi Arabia is diversifying its economy to focus on renewable energy, infrastructure, tourism, and technological innovation, and is welcoming foreign investors and experts to support this journey. This new direction creates opportunities for foreign firms, particularly those from China. 

Here, we summarize five opportunities for Chinese firms seeking to do business in the Kingdom of Saudi Arabia.