As forecast by World Pensions founder Maher-Nicolas Firzli (Asharq News w/ Bloomberg, Euromoney ECR), “China Inc.” has become the leading provider of foreign direct investment (FDI) in the Kingdom of Saudi Arabia, raising its stake by a whopping +900% year-over-year. Chinese companies added approx. $ 17. bn of new investments in the kingdom in 2023, and the pace of net new monies flows from Beijing into Riyadh seems to be accelerating in 1Q 2024
This remarkable achievement is accompanied by a flurry of technology transfers and joint co-investments across sectors alongside Saudi sovereign wealth funds (SWFs) such as the Public Investment Fund (PIF), and giant currency swap agreements with the Saudi Arabia Monetary Authority (SAMA), cementing the techno-financial alliance between the two Asian superpowers (“the Falcon and the Dragon”)
This massive influx of Chinese capital, technological skills and engineering knowhow will help strengthen & scale-up HRH Crown Prince Mohammed’s Vision 2030 economic development framework, “turning the Greater Arabian Peninsula into a pivotal financial and industrial hub positioned at the very centre of the New Silk Road connecting Hamburg to Hongkong” (BRI), as we’ll discuss in our upcoming TV interview (Sunday, 7 April 2024, @10:30 am Riyadh/Dubai time)
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