(Invest in China) Saudi business giants are optimistic about China's textile and apparel industry with multiple competitive advantages

  China News Agency, Beijing, April 14 (Reporter Wang Enbo) The CEO of Saudi Arabian business giant Ajlan Brothers Holdings Group, Masroor Haq (Masroor Haq) said in a video interview with China News Agency reporter that although Xinxing The economy has fierce competition in the textile and apparel industry, but China still has multiple competitive advantages.

  The Ajilan Brothers Holding Group is part of the Ajilan Brothers family, which started out in the textile and apparel industry and then achieved steady expansion in investment fields such as real estate, stock funds and bonds.

In the "Top 100 Family Companies in the Middle East 2020" released by Forbes, the Ajlan Brothers family ranks 46th.

  According to Huck’s memory, as early as the early 1990s when Saudi Arabia and China established diplomatic relations, the group was the first to visit China to explore business opportunities.

After years of trade, the Ajilan Brothers family established the first garment and textile factory in China in 2002, and continued to expand the industrial layout and integrate factory resources.

  Talking about why he chose to invest in China's textile and apparel industry, Huck said that the skills and education level of the Chinese labor force in the textile field is clearly ahead of other emerging economies.

"At that time, China had a lot of educated, hard-working human capital, which was one of the key factors for the successful operation of the textile industry."

  In addition, China's huge market size and continuous attention to technological innovation have also provided great help for the Ajlan Brothers family to expand their business.

The family established a textile and garment company in Shandong Province with a complete industry chain service capability. It has become the largest exporter in Zaozhuang City, Shandong, and its products are sold to many regions around the world including the United States and Europe.

  The textile and garment industry is an advantageous area of ​​economic and trade cooperation between China and Saudi Arabia, and Saudi Arabia has long been regarded as one of the most potential markets for China's garment and textile exports.

Looking to the future, are the prospects of China's textile and apparel industry still promising?

  Hacker said that many emerging economies are still investing in and developing the textile and apparel industry, which means fierce competition in the industry.

However, from the perspective of the benefits of China's textile industry, production costs and technological innovation are huge advantages, which have also attracted more foreign direct investment.

In addition, Chinese employees have higher levels of education and skills, and these important competitive advantages have not changed.

"So I think that until today, economies of scale (integrated industrial chain), innovative technology and human capital are still the competitive advantages of China's textile and apparel industry."

  Under the epidemic, China took the lead in realizing positive economic growth in the world.

The recently officially released "14th Five-Year Plan" outline has provided more certainty for the next development of the world's second largest economy.

For foreign companies in China, the benefits continue.

  Hacker said that China's "14th Five-Year Plan" provides many development opportunities, and the "Belt and Road" initiative is also very worthy of attention.

China's contribution to global economic growth is close to 30%. Under the "Belt and Road" initiative, cooperation in various fields is constantly developing, and companies from various countries in China have also received full development support.

  In his view, Saudi Arabia’s “Vision 2030” is highly compatible with China’s “One Belt, One Road” initiative, and both parties are very concerned about security, renewable energy, technology, medical and other fields.

The Ajilan Brothers family will continue to work to strengthen its existing strength in the field of apparel and textiles, and at the same time will explore opportunities in other fields and cooperate with Chinese companies to further expand their business.