Caixin
Jun 10, 2019 10:48 AM

Major Saudi Companies Become General Partners of SPIEF

Saudi Aramco, the national oil company of Saudi Arabia, and Saudi Arabia Basic Industries Corporation (SABIC), a diversified production company, will serve as general partners of the St. Petersburg International Economic Forum. Each of them will be represented by a large stand within the Forum’s exhibition area (Pavilions G and F, respectively). Neither of them has ever taken part in SPIEF before.

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“We are pleased that major companies from the Kingdom of Saudi Arabia have become our partners, which once again confirms how popular the SPIEF is as a leading platform for international cooperation. Each year, the number of companies participating in the Forum is growing, as is its influence on the shaping of the global economic landscape”, Adviser to the Russian President Anton Kobyakov said.

“As part of the Saudi Arabia official delegation, SABIC is participating in SPIEF 2019 as a General Partner to showcase our business commitment to the Russian market and promote our National Initiative ’Nusaned’, which aims to attract value and investments enabling the Saudi Vision 2030. SPIEF is an important business platform to engage with our customers and other business stakeholders.” Sami Al-Osaimi, SABIC VP Corporate Affairs, said. 

In addition, Dr. Anas Alfaris, Vice President for Research Institutes at the Saudi National Labs and National Science Agency – the King Abdulaziz City for Science and Technology (KACST), will attend the ‘Strategy for Integration of Science, Education, and Business’ session, which will be held on 6 June as part of the main SPIEF business programme. Anas Alfaris is also the founder of the Joint Centers of Excellence Program (JCEP) with leading universities (MIT, Stanford, Oxford, and Cambridge among others) and is responsible for the formulation of several national strategic programmes in science and industrial development. 

Saudi Aramco is the world’s leading company in terms of oil production and oil reserves. In 2019, Moody’s and Fitch reported that the company had become the most profitable in the world. In 2018, its profit reached USD 111 billion with total revenue of RUB 355.9 billion. For comparison, the profit of Apple was almost half that amount.

SABIC is the largest public company in Saudi Arabia and the Middle East. Its core businesses are petrochemicals, chemicals, and the production of industrial polymers, fertilizers, and metals.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions, exhibitions, and public events.

The Roscongress Foundation was founded in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

The Foundation’s events draw more than 80,000 participants each year from 195 countries, with more than 10,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 2,500 people working in Russia and abroad. In addition, it works in close cooperation with economic partners from 75 countries worldwide.

www.roscongress.org


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