In the field of manufacturing, in November 2020, the Saudi plastic optical intelligent electronics industry manufacturing base project with a total investment of 890 million US dollars was officially launched, the project is based on Saudi petroleum refining product resources, research and development and production of aviation, automotive and other specific industries need plastic accessories, and supporting the research and PR9376/010-011 9200-00097 development and production of semiconductor LED light source. AI control modules and smart home appliances and other products, the future is committed to building new plastic materials electronic optical industrial park in Saudi Arabia.

In the field of new energy, the Gulf region has unique lighting conditions, and the development of photovoltaic projects can help optimize its power energy structure and reduce the consumption of oil resources. China’s installed photovoltaic power generation capacity ranks first in the world, and the two sides have further deepened cooperation in the field of new energy. In 2020, JinkoSolar and EDF will cooperate to invest in the development of Al Dhafra, the world’s largest solar power plant in ABU Dhabi, UAE, with a total installed capacity of 2 gigawatts (GW), which will be able to meet the electricity demand of about 160,000 UAE households and reduce carbon emissions by more than 3.6 million tons per year.

PR9376/010-011 9200-00097

With the rapid change of information technology, Gulf countries also attach great importance to the development of digital economy. Chinese companies are accelerating their entry into this market with their PR9376/010-011 9200-00097 international competitiveness in the field of digitalization. Huawei Cloud, Tencent Cloud and Alibaba Cloud have all reached cooperation with local telecom service providers. In May 2022, Alibaba Group and Saudi Telecom established a joint venture cloud computing company, aiming to develop Saudi digital infrastructure and provide advanced data storage services and solutions for companies operating in the kingdom. In October 2022, Huawei signed a memorandum with Saudi Arabia to further strengthen cloud computing and intelligent infrastructure investment in the country, improve the business environment and attract international investment into Saudi Arabia.

Entering the post-oil economic era, in the world economic and geopolitical situation is extremely unstable, many Middle Eastern countries vigorously seek energy and economic structural transformation, determination and ambition can not be underestimated. And Chinese companies, especially technology companies that fit the Middle East’s transformation strategy, may usher in a new round of huge opportunities.