Recently, the Saudi Arabia outbound investment team of Landing Law Offices, in collaboration with Saudi KAC International Exhibition Group, successfully held the thematic seminar “Digging for Gold in the Desert: Opportunities and Challenges of Going Global in Saudi Arabia” at the North Bund International Legal Service Hub.

The seminar began with a detailed introduction to the ambitious blueprint of Saudi Arabia’s “Vision 2030” and the tremendous business opportunities it contains. It then presented, from multiple dimensions—including history, religion, culture, customs, and law—a comprehensive picture of Saudi Arabia’s unique political, cultural, and business environment. Finally, it summarized the three major challenges faced by Chinese enterprises going global to Saudi Arabia.

Background: The contradiction between Saudi Arabia's "Vision 2030" and the conservatism of a theocratic state with a strong religious influence

Since President Xi Jinping attended the China–Arab States Summit in December 2022 at the invitation of Saudi Arabia, a new era has begun in China–Arab relations. Due to its unique geographical location, the Middle East is both a key pillar of the Belt and Road Initiative and a vital bridgehead for Chinese enterprises going global. As the core of the Middle East, Saudi Arabia holds even greater strategic importance. However, the Saudi market presents many differences and challenges in terms of culture, policy, law, and the business environment.

Saudi Market Opportunities

Ms. Bo Xiaoxing, Manager of the Cooperation Department at the China Office of Saudi KAC International Exhibition Group, shared insights on Saudi Arabia’s market hotspots and business opportunities from three perspectives: an overview of Saudi Arabia, opportunities in the Saudi market, and prospects for China–Saudi cooperation.

She first introduced Saudi Arabia’s “Vision 2030,” launched in 2016, which outlines a USD 4.3 trillion transformation blueprint. He then elaborated on twelve major mega-projects:

1. NEOM – USD 700 billion high-tech smart city.
2. The Line – 170 km linear futuristic city.
3. Red Sea – USD 10 billion tourism destination.
4. AlUla – cluster of hotels, residences, retail, and infrastructure.
5. Diriyah – USD 62.2 billion cultural heritage tourism destination.
6. Qiddiya – USD 2.6 billion entertainment, sports, and cultural capital.
7. Amaala – USD 10 billion luxury tourism destination.
8. King Salman Park – 16 sq km “green lung” in Riyadh, Phase 1 investment of USD 4 billion.
9. Jeddah Central – USD 20 billion, 5.7 million sq m development in Jeddah.
10. Marafy – large-scale residential and community canal project in Riyadh.
11. Riyadh Expo 2030 Site – USD 7.8 billion, 7 sq km, over 200 venue constructions.
12. The Mukaab – USD 50 billion giant cube building project.

She also provided an in-depth analysis of business opportunities in key growth sectors, including construction machinery and building materials, furniture and home décor, maternal and baby products, small household appliances, and cosmetics. Finally, She outlined the prospects and major benefits of China–Saudi cooperation.

“Three Gates” to Entering Saudi Arabia

In the second half of the seminar, Lawyer Wang Yifeng from Landing Law Offices delivered a presentation titled Three Gates to Entering Saudi Arabia. His talk covered five areas: Saudi history and religious taboos, differences between Chinese and Saudi law, an overview of Saudi trade and economy, an outline of the new Saudi Investment Law, and a summary of the “three gates” for entering the Saudi market. 

Engaged Discussions and Practical Insights

Following the presentations, participants from various industries showed great interest and actively engaged in discussions, exploring the practical challenges and market opportunities of entering Saudi Arabia.

This seminar not only offered a comprehensive overview of the “Vision 2030” blueprint and Saudi Arabia’s major market opportunities, but also analyzed the significant barriers that accompany these opportunities, delivering an important and practical lesson for enterprises planning to expand into Saudi Arabia.