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Saudi Arabia Courts Chinese Builders for Vision 2030 at Davos

Published: Jan. 21, 2026 8:50 a.m. GMT+8

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(Davos, Switzerland) — Saudi Arabia has blanketed the main promenade of the World Economic Forum with pavilions and events this week, a high-visibility campaign designed to secure global capital and technical expertise for its massive economic transformation plan.

A central target of this outreach is Chinese industry. A high-level Saudi delegation, comprising nine ministers, used the gathering in the Swiss Alps to highlight the growing role of Chinese companies in the kingdom’s Vision 2030 gigaprojects.

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Saudi Arabia promoted its Vision 2030 transformation at Davos, particularly targeting Chinese industry for investment and expertise.
Chinese firms have secured major contracts in the Diriyah project, including $1.36B for the Opera House and over $1B each for university relocation and arena construction.
Saudi officials are expanding cooperation with China into technology and tourism, aiming for 150 million annual visits by 2030.

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Who’s Who

Diriyah Company: The Diriyah Company, backed by Saudi Arabia's Public Investment Fund, is developing Diriyah, a UNESCO World Heritage site, into a cultural and tourism destination. CEO Jerry Inzerillo highlighted Chinese companies as pivotal partners, praising their efficiency and quality in numerous multi-billion dollar contracts for projects like the Royal Diriyah Opera House and Diriyah Arena. The company plans to release nearly $7 billion in new contracts this year, inviting more Chinese bids and expanding cooperation into technology and tourism.

China State Construction Engineering Corp.: China State Construction Engineering Corp. is a Chinese state-owned enterprise. It was awarded a contract to build the Royal Diriyah Opera House as part of Saudi Arabia's Vision 2030 gigaprojects. This contract is valued at $1.36 billion.

China Railway Construction Corp.: **China Railway Construction Corp.** China Railway Construction Corp. is a Chinese state-owned enterprise. In Saudi Arabia, a group led by this company secured a $1.13 billion contract for the relocation project of King Saud University, as part of the Diriyah development.

China Harbour Engineering Co.: China Harbour Engineering Co. secured a significant contract within Saudi Arabia's Diriyah development. They were awarded a $1.533 billion contract for a "super block" which includes the construction of the multipurpose Diriyah Arena, highlighting their role in the kingdom's Vision 2030 projects.

Trip.com Group: Trip.com Group, also known as 携程集团, is a Shanghai-based global travel agency. The Diriyah Company is collaborating with Trip.com Group to attract more Chinese tourists to Saudi Arabia, supporting Riyadh's goal of 150 million annual visits by the end of the decade as part of its Vision 2030 strategy.

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