Hosted under the leadership of HRH Prince Mohammad bin Salman bin Abdulaziz Al-Saud, Crown Prince, chairman of the Council for Economic and Development Affairs, and chairman of the Public Investment Fund (PIF), the event brings together international business and investment trailblazers.
SABIC was one of eight leading companies selected as strategic partners for FII 2018, which explored the future of global trade and development under three core headings: Investing in Transformation, Technology as Opportunity, and Advancing Human Potential.
As a sector leader that pioneers advancements in business and modern life, the Riyadh-based company was recognised alongside seven other strategic partners, including Saudi Aramco, Ma’aden, Credit Suisse Group AG, HSBC, Mastercard, Siemens AG and STC.
SABIC, which employs more than 34,000 people across the globe, reinforced its commitment to support long-term prosperity and growth in KSA. It outlined how it has strategically transformed from a technology user to an innovation-focused technology producer.
In remarks from a panel entitled ‘Exponential Growth: How can business leaders prepare for fundamental technological transformation?’, Yousef Al-Benyan, SABIC vice chairman and CEO, stated: “Technology is fundamentally changing the landscape for investment and SABIC is playing a key role is defining how those investments will minimise risk and optimise growth opportunities for investors in KSA and beyond.”
“We are proud to demonstrate SABIC’s strong commitment and achievements with regards to being a strategic partner for stakeholders around the world, continuously exceeding investors’ ambitions, and providing opportunities to lead the fourth industrial revolution.”
Al-Benyan heralded petrochemicals as being critical to the growth and prosperity of the 21st century. As the world’s population reaches an estimated nine billion by 2050, meeting the needs of this increasingly urbanised population will require sustainable growth. He noted that SABIC is positioned to play a major role in the expansion of electric-powered vehicles, the development of lighter and stronger materials for planes, trains and automobiles, and creating advanced fertilisers that can produce more food on the same amount of land – producing more yield for less field.
Al-Benyan also took the opportunity to highlight SABIC’s unique position to leverage into the kingdom global customers via market intimacy – creating jobs in Saudi Arabia as part of its goal of being a key enabler of Saudi Arabia’s Vision 2030.
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