RIYADH: Saudi Arabia and China are collaborating to ensure safe energy supplies in their markets by planning to establish petrochemical joint ventures. Saudi Minister of Energy Abdulaziz Al-Saud held a meeting with the chairman of the National Energy Authority of the Republic of China, Zhang Jianhua, in Riyadh to discuss JVs that will transform crude oil into petrochemicals
Oman plans to launch a $5 billion public investment fund to support plans to overhaul the economy in the Gulf Arab nation over the next two decades, state media reported Wednesday. The Oman Future Fund will aim to increase economic activity and support the private sector as the country looks to reduce its reliance on oil. State media said Sultan Haitham bin Tariq Al Said approved the new fund, which would launch with 2 million riyals, or around $5.2 billion. It would support the country's Vision 2040 plans to grow and diversify the economy.
This conference is the largest gathering of Arab-Chinese business and investment, with the participation of 23 countries and more than 2,000 attendees, including senior government officials, CEOs, investors, and entrepreneurs.