Saudi Arabia Launches Modern Silk Road to Promote Arab-Chinese Investments

 Saudi Minister of Foreign Affairs Prince Faisal bin Farhan (Asharq Al-Awsat)
 Saudi Minister of Foreign Affairs Prince Faisal bin Farhan (Asharq Al-Awsat)
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Saudi Arabia Launches Modern Silk Road to Promote Arab-Chinese Investments

 Saudi Minister of Foreign Affairs Prince Faisal bin Farhan (Asharq Al-Awsat)
 Saudi Minister of Foreign Affairs Prince Faisal bin Farhan (Asharq Al-Awsat)

Based on the Kingdom’s endeavor to exploit its geographical location to link the Arab world with China, Riyadh announced the launching a modern Silk Road to achieve a comprehensive renaissance for countries and peoples of the region and create diverse and promising opportunities.

On behalf of Saudi Crown Prince Mohammad bin Salman bin Abdulaziz, the Saudi minister of Foreign Affairs, Prince Faisal bin Farhan bin Abdullah, inaugurated on Sunday the 10th session of the Arab-China Business Conference in Riyadh, under the slogan, “Investment and Financing through the Belt and Road Initiative”.

- Exchange of experiences

The foreign minister highlighted Saudi Arabia’s keenness to raise the level of cooperation and strengthen the long-standing partnership in all vital investment fields between the Arab countries and China.

According to Prince Faisal bin Farhan, the conference is an opportunity to work on advancing and consolidating the historical Arab-Chinese friendship, and building a common future towards a new era that serves the people’s interests and maintains peace and development in the world.

The Saudi foreign minister added that the event underlined the importance, potential, and common visions that lie in the investment and trade relations between the Arab world and China. He stressed that mutual compatibility, exchange of experiences and the launching of new opportunities for growth and investment would achieve progress and prosperity for the peoples of the region and the world.

- Trade exchange

Bin Farhan touched on the successful historic visit of Chinese President Xi Jinping to Riyadh at the end of 2022, which he said further strengthened the ties between the two countries in all political, economic and investments fields.

He added that the visit coincided with the launch of the first China-Arab summit and the Chinese-Gulf summit, which both yielded positive results and saw the signing of many agreements and memorandums of understanding worth more than $50 billion, covering a range of sectors.

He continued that China was the largest trading partner of the Arab countries, revealing that the total volume of trade exchange between the two sides reached $430 billion last year, with a growth rate of 31 percent, compared to 2021.

The minister also noted that the Kingdom represented 25 percent of the total trade exchange between China and the Arab countries, with a total value of $106.1 billion in 2022, an increase of 30 percent compared to 2021.

- Sustainable partnerships

For his part, Eng. Khaled Al-Falih, Minister of Investment, said that the conference, which is held under the patronage of Crown Prince Mohammed bin Salman, reflected the interest of the leaders of the Arab world in strengthening relations with China and expanding the successes achieved in the political and diplomatic corridors to forge sustainable partnerships.

According to the investment minister, the Arab world enjoys civilizational and cultural elements, as well as human and natural resources, which qualifies it to assume an advanced and leadership position, and to achieve a comprehensive renaissance for countries and peoples in all fields.

- Development strategies

Al-Falih continued: “Being the largest economy in the Middle East and the fastest growing in the world over the past year, we are today committed to serving as a bridge connecting the Arab world with China, and contributing to the growth and development of their relations. Our hosting of this crowd of distinguished leaders from all over the Arab world, and from Beijing, is evidence on that.”

He also stated that among of the most important engines of growth in Saudi Arabia were the economic development strategies, which are based on a distinct national vision and strong executive plans and programs. In this context, the minister stressed that the Kingdom constituted a model that would prepare the Arab region for the future.

- Energy exports

The Saudi minister of investment welcomed China’s engagement in this renaissance, which he said would create huge opportunities in the future for economic, trade and investment cooperation.

He continued that this integration was evident in the exceptional growth of mutual trade between China and the Arab countries, as energy exports from the Arab world contributed to advancing the industrial development in China. In contrast, goods manufactured in Beijing reached every home, office, and factory in Arab countries, Al-Falih remarked.

According to the Saudi investment minister, the growth of mutual trade and the compatibility of needs and capabilities created many diverse and promising opportunities for investment, adding that time has come for Beijing to be a major investment partner in the development process taking place in the Arab region.

- Foreign investment

Al-Falih said that foreign direct investment from China abroad has grown at a rate of 20 percent annually over the past decade, bringing the share of the Arab world to about $23 billion.

There is still a possibility to increase investment flows in the other direction and to take advantage of the big and thriving Beijing market, he underlined.

Arab-Chinese Summit

For his part, Ahmed Aboul Gheit, Secretary-General of the Arab League, stated that Saudi Arabia’s hosting of this major conference comes as a continuation of its successful efforts since the holding of the Arab-Chinese Summit last year in Riyadh, which he said gave a new impetus to bilateral cooperation in various fields.

- Arab investment climate

Aboul Gheit pointed to the importance of the conference in introducing entrepreneurs to the available investment opportunities. He noted that this would contribute to economic development in the Arab world and China, and help to explore the best ways to maximize the available prospects and capabilities for the Arab and Chinese sides.

- Strategic partnerships

For his part, Hu Chunhua, Vice Chairman of the Political Consultative Conference in China, expressed his country’s readiness to work with Arab countries to implement the results of the first Chinese-Arab summit, and to build a joint strategic partnership at a higher level.

He also emphasized the Chinese-Arab strategic cooperation, which he said is witnessing continuous development and has become a model for countries to enhance mutual trade and investment, thanks to the guidance of the leaders.



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
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Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.