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SABIC keen to raise Asia investments

Mohamed Al-Mady, SABIC vice chairman and CEO, interacted with Li Keqiang, premier of People’s Republic of China, on several occasions during the Boao Forum for Asia (BFA) Annual Conference 2014 in Hainan, China, including the BFA board of directors meeting, the BFA 2014 opening plenary and a closed-door senior executives roundtable, which the CEO led and moderated.
Al-Mady delivered a keynote address at the BFA 2014 Opening Plenary on April 10, which was attended by Premier Li, senior government officials, and more than 1,700 delegates from around the world.
In his address, Al-Mady reaffirmed SABIC’s commitment to Asia and China’s inclusive growth by increasing its investments in the region and supporting sustainable development.
Al-Mady also held meetings on the sidelines of the forum, with key figures including the Vice Mayor of Tianjin, China to discuss SABIC’s long term commitment to partner with China through its investments in Tianjin.
Al-Mady also met with the vice chairman of National Development and Reform Commission and the chairman of National Energy Administration to discuss future cooperation between China and Saudi Arabia.
During these meetings, Al-Mady appreciated the Chinese Premier’s successful vision in pushing reforms, which were announced in China in March.
He also expressed his confidence in the effectiveness of these reforms to enable China achieve real economic and social growth based on the rising domestic consumption, which is a major growth driver, the country’s open market policies, and urbanization.
During talks with the Premier Li, Al-Mady highlighted SABIC’s comprehensive growth strategy and its longstanding commitment toward the communities and markets it operates in, including China. SABIC will continue to be an inclusive growth partner to China and drive innovation and collaboration to help its customers capitalize on the growth drivers, and support them through the recently inaugurated state-of-the-art SABIC Technology Center in Shanghai, the upcoming compounding facility in Chongqing, and its collaboration with state-owned enterprises and research partners, he said.
SABIC is a strategic sponsor of the forum and a supporter for the sixth consecutive years.
In 1998, SABIC had proposed the idea of establishing the forum, which was officially announced in February, 2001, in Boao City, Hainan, China. Being an annual event with a fixed location, the Boao Forum is meant to reflect the global status of China, and the strength of its economic market.