Riyadh is poised to inaugurate the premiere Boao Forum for Asia conference, with the Saudi Basic Industries Corporation (SABIC) at the helm, in partnership with the forum itself. Themed around ‘Energy Transformation for a Sustainable Future’, the conference is slated to propel international collaboration and foster sectoral integration, marking a new chapter in the longstanding alliance between SABIC and the Boao Forum for Asia.
Capitalizing on a 16-year strategic alliance, SABIC continues to bolster ties between businesses and nations within product value chains. The company’s engagement extends beyond the annual gatherings, having contributed its insights on innovation and sustainability at several Boao Forum for Asia events, including the ‘Science, Technology, and Innovation Forum’ and the ‘Global Economic Development and Security Forum’.
SABIC has intensified its commitment to the Chinese market, leveraging the forum’s pivotal role in championing regional collaboration and all-encompassing growth. Since its foray into China in the 1980s, SABIC has worked closely with local entities to augment its footprint, aiming to bolster high-caliber economic progress through innovative solutions spanning the entire value chain.
A recent highlight was the groundbreaking ceremony for a new global petrochemical complex, a collaborative endeavor with Fujian Petrochemical Company, which represents an investment of 44.8 billion Chinese yuan.
With renewable energy gaining momentum in China, SABIC has stepped up its involvement in renewable energy applications within the country, supporting China’s shift to sustainable practices through a strategy rooted in innovation, aligning with the firm’s global vision for achieving carbon neutrality.
As a vanguard in the chemical industry and in response to escalating global challenges, SABIC is committed to aiding the energy sector’s sustainable evolution by fostering cooperative efforts and innovative breakthroughs.
As China furthers its economic reforms, the Sino-Saudi strategic partnership grows stronger. SABIC benefits from the Boao Forum for Asia as a significant venue to amplify its role in diverse sectors and to facilitate strategic synergies between China’s Belt and Road Initiative and Saudi Vision 2030.