Saudi Arabian Brothers Holding Group Wants To Expand Cooperation With Chinese Textile Enterprises

Masroor HAQ, chief executive officer of Saudi Arabia business giant ajilan brothers holding group, said in a recent video interview with China News Agency reporters that despite the fierce competition of emerging economies in the textile and clothing industry, China still has multiple competitive advantages.

The ajilan brothers holding group belongs to the ajilan brothers family, which started with textile and clothing industry, and then achieved steady expansion in investment fields such as real estate, stock funds and bonds. According to Forbes' list of the top 100 family businesses in the Middle East in 2020, the aguilan brothers family ranks 46th.

According to Huck's recollection, as early as in the early 1990s when Shazhong established diplomatic relations, the group took the lead in visiting China to explore business opportunities. After years of trade, the ajilan brothers family established the first garment textile factory in China in 2002, and continuously expanded the industrial layout and integrated the factory resources.

Talking about why he chose to invest in China's textile and clothing industry in those years, Huck said that the skills and education level of China's labor force in the textile field is significantly 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 success of the textile industry."

In addition, China's huge market size and continuous attention to technological innovation have also provided great help for the agilan brothers family to expand their business. The family has set up a textile and garment enterprise with complete industrial chain service capacity in Shandong Province, and has become the largest exporter in Zaozhuang City of Shandong Province, and its commodities are sold to many regions around the world including the United States and Europe.

The textile and garment industry is an advantageous field of economic and trade cooperation between China and Saudi Arabia. Saudi Arabia has long been regarded as one of the most potential markets for China's clothing and textile export. Looking forward to the future, is the prospect of China's textile and garment industry still worth looking forward to?

Many emerging economies are still investing in and developing the textile and clothing industry, which means fierce competition, he said. But in terms of the benefits of China's textile industry, production costs and technological innovation are huge advantages, which also attract more foreign direct investment. Moreover, Chinese employees are more educated and skilled, and these important competitive advantages remain unchanged. "Therefore, I believe that to this day, economies of scale (integrated industrial chain), innovative technology and human capital are still the competitive advantages of China's textile and garment industry."

Under the epidemic situation, China took the lead in achieving positive economic growth in the world. The outline of the 14th five year plan, which has been formally issued recently, has provided more certainty for the next development of the world's second largest economy. For foreign enterprises in China, it can be said that there are many advantages.

Huck 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 rate to global economic growth is close to 30%. Under the belt and road initiative, cooperation in various fields is constantly developing, and enterprises of various countries in China have also received full development support.

In his view, Saudi Arabia's "vision 2030" is highly consistent with China's "one belt and one road" initiative, and both sides are very concerned about security, renewable energy, technology, health care and other fields. The aguilan brothers will continue to strengthen their existing strength in the field of clothing and textile, and will explore opportunities in other fields to further expand their business with Chinese enterprises.