Saudi Arabia's 2030 Vision Reform Plan

In recent years, with the third generation leader of Saudi Arabia, Salman bin Salman, taking office, Saudi Arabia has begun to make bold reforms in order to build a new sustainable economy that can break away from oil dependence. We aim to build Saudi Arabia into the heart of the Arab and Muslim world, a world economic powerhouse for global investment, and a global hub connecting Asia, Europe, and Africa in future development, and have announced the "2030 Vision Plan". This vision plan encompasses goals in multiple fields, including infrastructure, energy, economy, society, and culture. Saudi Arabia is changing the global business landscape and attracting global traffic through massive investments.

In terms of infrastructure, Saudi Arabia is investing trillions of dollars to build super projects that have caught the world's attention, such as The Line, NEOM New City, Mukaab Building, Qiddiya Entertainment City, and the kilometer high Kingdom Tower. In addition, Saudi Arabia currently has a total of 167 registered hotels under construction, with a total of 63753 guest rooms. At the same time, commercial residential buildings and supporting living facilities are also being built in large quantities, and large-scale infrastructure activities have brought huge demand, including the demand for hardware and building materials, interior decoration, home appliances, daily consumer goods and other commodities in the market. Moreover, with the increasingly close relationship between China and Saudi Arabia in recent years, Saudi Arabia has gradually abandoned its previous import channels from Europe and America, and turned to more cost-effective Chinese products. The large gap left by European and American products needs to be filled by more Chinese products. China has become Saudi Arabia's largest trading partner, its largest source of imports and export target country.

In the socio-cultural field, Saudi Arabia actively hosts world-class events and events to enhance its global influence. In 2023, Saudi Arabia successfully hosted the Formula World Championship Saudi Grand Prix and Saudi Club World Cup. In the future, Saudi Arabia will also host a series of large-scale events such as the World Expo, the Asian Summer Games, and the Asian Cup football tournament. The hosting of these international events will attract travelers from all over the world, further enhancing consumer demand and retail market share, bringing huge business opportunities to the future market.

Jeddah, as the second largest city in Saudi Arabia and a port city along the Red Sea coast, is the residence of the government's Ministry of Foreign Affairs and embassies of various countries. It has the largest port in Saudi Arabia and is an extremely important financial center. At the same time, because Jeddah is only 70 kilometers away from the holy city of Mecca, a global tourist destination for 1.8 billion Muslims, it is also the most important tourist city in Saudi Arabia. As the economic and trade center of Saudi Arabia, with the advancement of Saudi reform and opening up, Jeddah's trade prospects will surpass Dubai and become the largest trading market in the Middle East. Compared to the Dubai market, which has a small market size and mainly focuses on low-priced transshipment, the local terminal market in Saudi Arabia has a great advantage in terms of large volume and high prices, providing significant profit guarantees for China's foreign trade enterprises.