Business ( Europe Brief News): Saudi-backed EWPartners forecasts stronger China-Middle East investment ties driven by tech and healthcare growth amid global trade uncertainties.
“De-globalisation, global trade uncertainties and the juggling of supply chains around the world incentivise or motivate more Chinese companies and entrepreneurs to consider alternative options [like] alternative supply chain and factory arrangements,”
said managing partner Cliff Chau in an interview on Thursday.
Since the Middle East looks for economic prospects outside of the oil and gas sector and has close diplomatic relations with China, many well-established mainland enterprises have found it to be appealing, he said.
“Such [economic] diversification … provides enormous opportunities for foreign companies to penetrate and access the market [in a way] that was not previously available,”
Hong Kong-based Chau said.
“We are seeing a lot more inquiries [about] how we can help them diversify their supply chains, capabilities and manufacturing facilities.”
Since its founding in Riyadh in 2017, EWPartners has made about 20 portfolio investments, specializing in assisting Asian companies looking to develop in the Middle East. These included international partnerships with Hong Kong online broker Valuable Capital, PC manufacturer Lenovo, courier J&T Global Express, and Post owner Alibaba Group Holding.
Chau claimed to have identified prospects in smart manufacturing in addition to financial and e-commerce.
Chau claimed that “the level of automation has increased dramatically over the last several years,” which made astute manufacturers more inclined to take the Middle East into consideration.
According to him, Middle Eastern nations aimed to draw in these businesses so they could manufacture things there and import and export.
How will China’s tech and healthcare advances strengthen Middle East ties?
By constructing hospitals and establishing health cooperation platforms like the China-Arab Health Cooperation Forum, China is working with Middle Eastern nations to enhance their healthcare infrastructure.
Chinese medical teams have been sent to the area, and China offers vaccines, medical supplies, and modern diagnostic and life science knowledge. In addition to supporting pandemic response and public health capacity building, these initiatives aid in addressing healthcare issues in nations with limited resources.
China is collaborating on innovative healthcare initiatives that include digital health solutions, personalized medicine, and gene technology.
For instance, partnerships in the UAE are centered on “Internet+Health” projects and genomic medicine, which promote innovation and technology transfer that is advantageous to both parties.
