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SABIC Calls For International Collaboration For Sustainable Growth | |
| Sumita Pawar |
SABIC, a world leader in a wide range of chemicals, asked the rest of the world to work together better across regions and industries for long-term economic growth.
This call for collaboration was made during the Boao Forum for Asia (BFA) Conference, an annual international conference that SABIC is sponsoring for the 15th time, the last four of which as an honorary strategic partner, said the report.
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The SABIC delegation was led by Abdulrahman Al-Fageeh, who is the CEO of SABIC and a member of the BFA Board of Directors. During the conference, the SABIC delegation took part in several high-level conversations.After the opening plenary's keynote speech by Chinese Premier Li Qiang, Al-Fageeh spoke on behalf of the international business community.
He expressed his optimism for the re-establishment of stable economic growth and called for the world to unite to deliver this growth through a circular economy with no open-ended value chains. He also engaged in several public and closed-door sessions at the conference.
As the report mentioned, in his speech, Al-Fageeh shared reflections and insights related to this year’s annual conference theme, ‘An Uncertain World: Solidarity and Cooperation for Development Amid Challenges’, while further highlighting how China has opened many new business opportunities for SABIC.
"For sustainable economic growth to flourish globally, close international collaboration will be required not only between companies but also between countries linked by value chains. Being the world’s largest market for chemical products, China is the obvious place to establish a nexus of global sustainable economic growth," said Al-Fageeh. "As SABIC expands its local presence, it will focus on investing in the development of technology. Innovation-driven economic growth can spread widely under the strategic alignment between Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative."
In addition to sharing his holistic vision at the opening ceremony, Al-Fageeh also participated in a panel discussion on ‘Carbon Neutrality: Dilemma and Way Out’ with representatives from financial institutions, businesses, and government organisations. During the discussion, Al-Fageeh underlined the importance of collaboration across the value chain in the quest for global carbon neutrality. He also noted that companies should be focusing on the long-term economic value of their carbon reduction-related projects to ensure that they are sustainable.
Report said that SABIC's commitment to carbon neutrality was also clear at its Forum booth, where it showed off its innovative ways to speed up the circular carbon economy, make energy use more efficient, and help customers reduce their environmental footprint.