SABIC attends Boao Forum for Asia 2022

SABIC, the world's leading diversified chemical company, has proposed to promote sustainable development and "reglobalization" of the world economy during the Boao Forum for Asia (BFA) 2022 Annual Conference.  This year marks the 14th consecutive year that SABIC has participated in the forum as an honorary strategic partner.  The company once again calls on partners from all walks of life to uphold the spirit of collaboration in addressing the major challenges facing the world today.  
After Chinese President Xi Jinping delivered a video keynote speech at the opening ceremony of the conference, Yusuf al-Baiyan, Vice Chairman and CEO of SABIC and board member of BOao Forum for Asia, delivered a keynote speech via video as a representative of multinational companies.  After the opening ceremony, Chinese Vice Premier Han Zheng met with the board members and representatives of strategic partners of the FORUM. Al-baiyan attended the meeting via video.  
In his speech, Mr Al-baiyan conveyed the consensus of the international business community: "Tackling climate change with sustainability is the best way to create long-term value and benefit the world."  "China's 14th Five-Year Development Plan and vision 2035 lay a solid foundation for sustainable development, and set the goal of carbon peak by 2030 and carbon neutral by 2060," he said, citing the actions of the host country.  Sabic is actively expanding its investment cooperation in China thanks to China's development plans."  
Mr Al-baiyan admits that implementing the consensus will not be easy or quick.  "It takes a lot of time and effort to transform the energy-based industrial chain.  The public and private sectors must work together to 'reglobalize' the world economy, opening up new markets and diversifying supply chains while developing alternative energy sources."  But, he added, "I believe that with a spirit of collaboration, even the toughest challenges will be overcome.  It is the spirit of collaboration that has helped us through the most difficult times of COVID-19;  It is the spirit of collaboration that will ultimately lead us to a united, inclusive and prosperous world."  
SABIC has long been an active participant in the Boao Forum for Asia and continues to call for enhanced cross-regional cooperation to effectively address current and future global challenges.  SABIC firmly believes that the chemicals industry has the ability to serve as an anchor point for cross-value chain collaboration, driving sustainable transformation of the industry while meeting the needs of emerging markets.  At the same time, the company is also actively exploring investment opportunities in China. For example, SABIC joint Venture's new polycarbonate plant in Tianjin has been successfully tested.  In Fujian, SABIC has set up a new joint venture to advance a planned petrochemical complex.  

Posted by Leila
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