Shanghai Lujiazui Financial City Authority (SLFCA), has established its first office in the Middle East in Saudi Arabia’s King Abdullah Financial District (KAFD).
This marks the opening of its second global office following the launch of the London office in 2016. The announcement was made at an event organized by eWTP Arabia Capital (eWTPA), an investment platform in KSA and China, held at eWTPA’s Riyadh office.
Lujiazui Finance & Trade Zone is the only national-level development zone in China that specifies finance and trade industries. Lujiazui is situated in Pudong New Area, home to the China Pilot Free Trade Zone and the premier destination in Shanghai for investors, talents, and innovators.
At the event, eWTPA signed a strategic agreement with SLFCA on developing an investment cooperation platform. The two sides aim to synergize all-round connectivity from finance, trade, innovation and technology, among others, and promote more robust exchanges in business, capital and talents linking China and Saudi Arabia.
An MoU was also signed by eWTPA, SLFCA and the King Abdullah Financial District Management & Development Company (KAFD DMC) to strengthen collaborations between the two countries’ major financial hubs, Riyadh and Shanghai.
Gautam Sashittal CEO – KAFD DMC,
“Partnerships like eWTPA, along with financial hubs like KAFD and SLFCA, act as catalysts in fostering businesses across borders, creating new avenues for companies to grow and tap into new markets. This strategic agreement will pave the way for meaningful engagement in the days ahead and ensure smooth working relationships for individuals and businesses alike.”
Supported by eWTPA, the Riyadh office of SLFCA will serve as Shanghai’s primary gateway to the Kingdom of Saudi Arabia. It will operate as an official platform, connecting all market participants from both regions and fostering cross-border partnerships in commerce, technology and finance and other industries.
KAFD is a key driver of Riyadh’s economic ambitions and is the largest LEED-certified mixed-use business district in the world. It is owned and managed by the KAFD DMC. Set in the heart of the Saudi capital Riyadh and home of 95 buildings designed by 25 world-leading architectural firms, KAFD features 1.6 million square meters of state-of-the-art office space, world-class facilities, and iconic luxury residences, designed to transform the way urban communities live, work, and play.
Mr. Jerry Li, Founder and Managing Partner of eWTPA, emphasized the robust Saudi-China relations said that “The partnership holds immense importance for Riyadh and Shanghai, offering the potential to generate significant value. Shanghai aims to utilize its expertise to support Saudi Arabia in achieving its Vision 2030. In return, Saudi Arabia will view this newly established office as an entryway to gain insights into and further tap into China’s thriving industries, including commerce, technology, and finance. eWTPA hopes to continue contributing to the collaborative innovation and growth between China and Saudi Arabia.”
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
