[Photo provided by the Department of Commerce of Ningxia Hui Autonomous Region]
As of November 2022, the seven Arab countries of Saudi Arabia, the United Arab Emirates, Jordan, Palestine, Yemen, Egypt and Libya had established 10 enterprises in Northwest China's Ningxia Hui autonomous region, with actual utilized foreign capital of $13.91 million, mainly in such fields as catering and accommodation, dairy product processing, and wholesale.
In recent years, taking the China-Arab States Expo as an opportunity, Ningxia has focused on economic and trade cooperation, seized opportunities brought by the Belt and Road construction, has been building platforms for opening-up and international cooperation and optimizing business environment to attract more investment from Arab countries.
Ningxia has further promoted the construction of an inland open economic pilot zone, welcomed international renowned enterprises, focused on various fields including financial investment, oil and gas, digital economy, wind power and photovoltaics, and clean energy, enhanced cooperation with key enterprises of Arab countries such as Saudi Arabian Oil Company, Ajlan & Bros Holding Group and First Abu Dhabi Bank (FAB), and strived to expand its local investment fields by sector and scale for Arab countries.
Ningxia has also expedited the implementation of projects signed at the China-Arab States Expo, resolved prominent problems in project construction through consultation, thus continuously increasing the rate of foreign capital utilization.
Taking the 6th China-Arab States Expo as an opportunity, Ningxia will prepare an economic and trade exchange event for multinational companies, build a platform for foreign investment cooperation, promote more Arab companies to focus on special industries in Ningxia, strengthen the integrations of production, technology and markets, facilitate the implementation of a number of investment and technical cooperation projects, and advance high-level opening up through high-quality foreign capital utilization.
[Photo provided by the Department of Commerce of Ningxia Hui Autonomous Region]
