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Belt And Road Initiative Will Bring Development Opportunities For The Countries In The Middle East
Aug 10, 2017

"Belt and Road Initiative" will bring development opportunities for the countries in the Middle East

The latest report by Kuwait based Arabia investment and Export Credit Corp recently released show that in 2016 Chinese become the main investors in the Middle East, a total investment of $29 billion 500 million, accounting for 31.9% of all investment in countries outside the region. The analysis thinks, Chinese enterprises in the Middle East in the field of infrastructure investment has played an important role, China proposed "The Belt and Road" initiative has brought the rare development opportunity for the Middle East countries.

China's jump into the Middle East's leading investor is not surprising"

The 150 page report entitled "the investment environment of Arabia country report 2017", the main research results based on the United Nations Conference on Trade and Development released "World Investment Report" in 2017, and the world released the acceptance of foreign direct investment data. The report includes "globalization environment in Arabia national areas outside the country accept direct investment" "Arabia country to attract foreign investment ability" and "investment risk and coping strategies of several parts, aimed at a comprehensive analysis of the investment situation and development trend of Arabia area.

It is worth noting that China has invested 29 billion 500 million US dollars, accounting for 31.9% of the total investment in the region, becoming the most important investors in the middle east. The level of economic cooperation between China and the Arabia countries has steadily improved in recent years, so it is not surprising that China has been ranked as the most important investor in the Middle East this year." Egypt regional strategic research center, chief researcher Ibrahim Huitani in an interview with reporters, said that the Arab Israeli economic cooperation for a long time bilateral relations "ballast stone" role. In recent years, bilateral cooperation has not only been confined to the field of oil and gas, but has also played an important role in the investment in infrastructure in the middle east.

Statistics show that in 10 years, China enterprise investment in the Middle East project involved in electronic communication to many areas of retail trade, trade China and the Middle East have increased from $20 billion to $230 billion, is expected in 2020 the bilateral trade volume is expected to exceed $500 billion.

"The report fully affirmed China's achievements in entering the Middle East market. Some Arabia countries have experienced the impact of the international financial crisis and political turmoil, and now the recovery of the investment environment is accelerating. This is inseparable from China's forward-looking investment." Heyitani said.

China's "Industrial Park" construction experience has won widespread praise in the Middle East countries

In recent years, Sino Arab Economic Cooperation has been fruitful in many fields: after nearly 10 years of development efforts, Egypt Suez economic and trade cooperation zone in the two countries, the government to promote, attract investment of nearly $1 billion, about 70 enterprises; in April this year, Chinese - Oman (Du Ku Graham) Industrial Park Foundation, 10 the first batch of enterprises settled contract; Chinese enterprises as the only foreign enterprises to participate in the construction of the Morocco science and technology city Danger Mohamed VI "has signed a memorandum of cooperation, including cooperation in the field of aviation, an automobile, electronic commerce, environment and railway transportation, to promote the Tangier city and the Morocco's industrialization and modernization......

The Middle East market is one of the world's most recognized markets with the greatest growth potential. The Middle East countries mostly belong to emerging economies and developing countries, per capita GDP per capita, highway mileage, railway mileage per capita were far lower than in developed countries, many countries are in the industrial city, the starting or accelerating stage, a large amount of energy, communications, transportation and other infrastructure needs.

Middle East countries need industrial transformation and upgrading to speed up development. In Egypt as the representative of the state of Arabia is vigorously promoting the national industrialization, improve national economic hematopoietic capacity; Saudi Arabia, Oman, Qatar and other Gulf oil producers, seeking economic and industrial diversification in the long-term downturn in oil prices. In the process of industrialization, labour intensive industries can boost the nation's economic vitality and create jobs. The successful experience of China's construction of "industrial parks" and "industrial parks" has been greatly welcomed after the introduction of the Middle East, and some countries are actively working with China to build industrial parks".

In the financial sector, China has signed a currency swap agreement with Qatar and established a RMB clearing bank, with the Qatar Investment Board and China investing 50%, setting up a $10 billion investment fund. "As China and Arabia are becoming more and more cooperative, innovative development will emerge in all fields." Hey Tani says.

Doha RMB clearing center open trading, Qatar with its influence in the Middle East and carry out professional commercial transactions in currency settlement, trade finance, asset and wealth management and financial services in areas such as the ability to meet customer demand for the Middle East and Africa RMB plays an important role. Today, financial cooperation between China and the Middle East is steadily advancing, facilitating regional enterprises and financial institutions to use Renminbi for cross-border transactions, further promoting bilateral trade and investment facilitation.

Egyptian experts believe that Chinese investment in Arabia state in recent years have made great progress in China's Belt and Road Initiative "initiative provides a rare opportunity for the development of the national economy in middle east. First of all, large national projects continue to make progress in promoting the two governments; the small and medium-sized enterprises can also take "The Belt and Road 'building' ride '- China in this process to the Middle East countries transportation advanced technology to help Arabia national industry to achieve leapfrog development." Hey Tani says.





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