Al-Ajlan, Vice Chairman of the Board of Directors of Al-Ajlan and Brothers Group, stated that he fully trusts in the opportunities for cooperation with leading Chinese companies in various industries, considering that investing in China means investing in the future.
In an exclusive interview with Xinhua News Agency, Al-Ajlan mentioned that their Saudi company has started its operations and investments in China for over 30 years, indicating their continued belief that industrial development and technological innovation contribute to growth in China and provide a strong foundation for collaboration with leading Chinese companies in various industries. He emphasized their commitment and full confidence in future cooperation.
He highlighted that China’s comprehensive infrastructure, high-quality talents, and vast innovation opportunities could create good prospects for foreign investors to expand their investments in new industries and technologies.
He pointed out that the Chinese economy is moving towards high-quality development and innovation, as China has already taken a leading position in emerging fields such as fifth-generation technology, artificial intelligence, and renewable energy vehicles.
He indicated that global economic development has faced many challenges and doubts in recent years, yet the strength and immense potential of the Chinese economy have not wavered.
He emphasized the importance of high-quality development strategies continuously adopted by China, stating that improving industrial structure and development quality helps enhance the growth of new industries, achieve stable development, and thereby strengthen the global economy with a positive impact.
Al-Ajlan noted that China already possesses globally advanced technologies, services, and products in various industrial fields, emphasizing that the Chinese government report this year repeatedly underscores the significance of digital economy, biotechnology, and innovative-dependent emerging areas.
Some believe that China will witness growth in the number of companies in fields like artificial intelligence, fifth-generation technology, financial technology, healthcare, renewable energy, and others on a global scale.
Simultaneously, Al-Ajlan recognized that the “Vision 2030” will open doors of opportunity for Chinese companies to expand in these sectors through deep integration with the Chinese Belt and Road Initiative.
He mentioned that China has always been at the forefront of global digital finance, and that digital and technological finance have become key development strategies and areas in China.
Starting from 2023, statistics show that the penetration rate of mobile payment in China has reached 86%, making it the global leader in this aspect.
He explained that in the field of digital finance, supported by technical expertise from our partners in China to provide digital banking solutions, the “Al-Ajlan and Brothers” group established “Tekmo,” a subsidiary for digital banking services, to enhance the development of financial technology industry in Saudi Arabia.
By leveraging cutting-edge global digital payment technology from their Chinese partner, Tekmo can capitalize on market opportunities in mobile payment industry in the Kingdom and work towards establishing a “cashless society” in the Middle East and North Africa.
Al-Ajlan expressed hope in developing partnerships with distinguished Chinese companies in various fields such as manufacturing, energy, tourism, digital finance, healthcare, financial technology, logistics services, and others.
He affirmed that Chinese partners are ready and capable of transferring advanced technological and industrial expertise from China to Saudi Arabia and emerging markets in the Middle East, working towards enhancing long-term sustainable development for non-oil industries in the Kingdom.
