A bird’s-eye view of the King Abdullah Financial District in Saudi Arabia. PROVIDED TO CHINA DAILY
As Saudi Arabia presses ahead with its Vision 2030 to diversify its economic structure, a Saudi official has expressed optimism about China’s long-term economic prospects, underlining the potential of bilateral cooperation and a willingness to fully support Chinese companies in expanding their footprint across the Middle East.
Faddy Abdulrahman AlAql, chief project delivery officer of the King Abdullah Financial District, or KAFD, said that the business hub in Riyadh has emerged as a core engine driving the kingdom’s economic restructuring and growth, boasting a complete industrial and residential ecosystem by gathering top-tier banks, regulatory bodies, law firms, tech giants and multinational enterprises.
He spoke highly of China’s sound long-term growth fundamentals, pointing out that China is positioning itself well for the next phase of global development.
“When I look at China’s economy, what gets my attention beyond the growth numbers is where that growth is actually coming from. China is moving up the value chain: Advanced manufacturing, tech, services, and real domestic consumption,” he said. “These areas have a strong overlap with Saudi Arabia’s developmental priorities.”
