SABIC at BFA: a more connected world is on the horizon

Boao, China, March 28, 2019 – SABIC, a global leader in diversified chemicals, outlined the need for common development, during the Boao Forum for Asia (BFA) Annual Conference 2019, which it attended as a Strategic Partner for the sixth consecutive year, further demonstrating the company’s industry leadership and commitment to the region.

Led by SABIC Chairman Dr. Abdulaziz Saleh Aljarbou, the SABIC delegation joined strategic conversations among heads of state, government officials, and global industrial and business leaders from across the world. On the afternoon of March 28, Dr. Aljarbou joined specially invited industrial and business leaders in a discussion with Chinese Premier Li Keqiang on the theme of this year’s forum - “Shared Future, Concerted Action, Common Development”.

As the representative from the business community, Dr. Aljarbou joined Chinese Premier Li Keqiang and many other global leaders to deliver keynote speeches at the opening plenary, highlighting the importance of cross-regional collaboration for the future.

In his speech, Dr. Aljarbou spoke on the necessity of a shared future, stating, “As the world stands at the crossroads of immense change, global economic landscapes are changing rapidly and the old ways are no longer sufficient to meet today’s needs. This underscores that cross-regional cooperation is more essential than ever before in generating and maintaining sustainable and inclusive growth. By committing to this approach, a more connected world is on the horizon.”

“China and Asia as a whole continue to be a key strategic market for SABIC,” said Yousef Al-Benyan, SABIC Vice Chairman and CEO, and member of the Board of Directors of the Boao Forum for Asia (BFA). “As key players across the region deepen their synergy to enable cross-regional collaborations, we are excited to strengthen our commitment to China and Asia, exemplifying our theme for this year’s BFA, which is ‘Shaping the Future Together.’”

Themed “Shared Future, Concerted Action, Common Development”, the forum this year casts heavy expectations for answers to the issue Chinese President Xi Jinping highlighted at last year’s BFA Annual Conference - that humanity has a major decision to make between openness and isolation and between progress and regression. At the forum, SABIC delivered its answer by illuminating the company’s will to drive inclusive growth and champion a tighter-knit global community.

This positive, forward-looking direction was represented at the SABIC booth at the forum, which detailed SABIC’s innovative solutions that are supporting circular economy, providing environmental protection, as well as energy saving and efficiency across industries and are enabling the realization a smarter future. These demonstrations are also designed to show SABIC’s capability in facing challenges that are on the horizon for the entire world, as the population increases and diversified individual needs grow.

In addition to the thought leadership engagements, SABIC’s strong commitment to China was also marked by a recent investment MoU signed with the Fujian Provincial Government for a mega petrochemical project and by excellent progress with Sinopec, working together on new mega investments for the SINOPEC SABIC Tianjin Petrochemical Co. Ltd. (SSTPC) joint venture - running a world-class petrochemical complex. Those come as the latest efforts made since SABIC first started operating in China in the 1980s, contributing to the company’s 2025 Strategy and aligning with China’s Belt and Road Initiative, which is increasing its synergy with other vital development plans represented by Saudi Vision 2030.

SABIC Chairman Dr. Abdulaziz Saleh Aljarbou speaks as the representative from the business community at the opening plenary of Boao Forum for Asia Annual Conference 2019