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Agricultural Development Bank of China
Trade

NDRC-ICC delegation's visit to Saudi Arabia yields pragmatic results in bridging BRI, "2030 Vision"

July 12, 2019


Abstract : A visit to Saudi Arabia by the International Cooperation Center's (ICC) delegates, together with those from the National Public Credit and Information Center, has yielded pragmatic results in bridging the Belt and Road Initiative (BRI) and the Saudi Arabian "2030 Vision" recently.

BEIJING, July 12 (Xinhua) – A visit to Saudi Arabia by delegates from the International Cooperation Center's (ICC) of China's National Development and Reform Commission (NDRC) and the National Public Credit and Information Center, has yielded pragmatic results in bridging the Belt and Road Initiative (BRI) and the Saudi Arabian "2030 Vision" recently.

From June 30 to July 3, the Chinese delegation paid a visit to the Ministry of Energy, Industry and Mineral Resources (MEIM), Saudi Arabian General Investment Authority, and Royal Commission for Jubail and Yanbu and exchanged views on implementing achievements of the Second Belt and Road Forum for International Cooperation and facilitating relevant international cooperation mechanisms with Saudi Arabian officials.

Photo: The delegation exchanged views with Abdulaziz bin Abdullah bin Ali Al-Abdulkarim, Deputy Minister of Energy, Industry and Mineral Resources.

Abdulaziz bin Abdullah bin Ali Al-Abdulkarim, Deputy Minister of Energy, Industry and Minerals, said that Saudi Arabia's "2030 Vision" and China-proposed Belt and Road Initiative are now under in-depth docking and will play the role of being the investment cooperation belt for China and Saudi Arabia.

"A major opportunity has come, and it is hoped that both sides will establish a pragmatic working mechanism, to reinforce close communications, and to play an active role in enhancing the level of exchange and cooperation between MEIM and NDRC, China's local governments, and enterprises," remarked the deputy minister.

According to the Chinese delegation, China and Saudi Arabia's comprehensive strategic partnership is at its best, providing unprecedented opportunities for comprehensively deepening China-Saudi cooperation.

Through dialogues with Ibrahim Al-Omar, Governor of Saudi Arabian General Investment Authority (SAGIA) on July 1, the two sides reached consensus on four aspects.

The first includes plans to establish a pragmatic working mechanism, strengthening close communications, researching on local cooperation, industrial docking, effective path and modes of platform construction.

The second is to keep better holding of the China-Saudi Investment Cooperation Forum and build an important platform of exchanges and cooperation among the government departments, localities and enterprises of China and Saudi Arabia, along with establishing a regular rotating host mechanism.

The third covers strengthening credit cooperation and building a multinational credit system and standards, and the fourth one is to strengthen the exchange of policies and project information, promoting pragmatic cooperation projects.

Photo: Governor Ibrahim Al-Omar accompanied the delegation to visit the Saudi Investment Service Center.

Ibrahim Al-Omar noted that Saudi Arabia is committed to achieving the "2030 Vision" plan through deeply docking with the Belt and Road Initiative and providing preferential policies for financial investment, export incentives and industrial development for Saudi Arabian enterprises.

"SAGIA has established a one-stop investment service center by providing investors with services covering full process and it has set up its China office in Beijing to focus on the China-Saudi investment projects," added Ibrahim Al-Omar.

During their visit in Saudi Arabia, Chen Weiqing, China's ambassador to Saudi Arabia, said that China and Saudi Arabia have carried out in-depth cooperation on the Belt and Road Initiative and the "2030 Vision" of Saudi Arabia and pragmatic cooperation in various fields and have achieved a series of significant achievements.

"It is hoped that under the framework of the cooperation mechanism of the China-Saudi high-level committee, the two sides will continue to deepen cooperation areas, jointly promote the landing of major projects, and contribute more new achievements regarding China-Saudi Arabia's comprehensive strategic partnership," Chen said. (Edited by Duan Jing, duanjing@xinhua.org)

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Keyword: NDRC ICC Saudi Arabia

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