Middle East countries eager for closer cooperation with China, says FII CEO

RIYADH, Oct. 30 (Xinhua) -- China has played a major role in facilitating the Middle East's economic diversification, and local markets are looking forward to deeper cooperation with the world's second-largest economy, the head of the Future Investment Initiative (FII) Institute told Xinhua on Thursday.

As the founder of the FII conference, which over nine years has evolved into the largest and most influential investment and innovation forum in the Middle East, Richard Attias, acting CEO of the FII Institute, has a long history of engagement with China.

"We are all impressed by what China has achieved over the past decades," he told Xinhua on the sidelines of the latest FII annual gathering, recalling his first trip to China in 1986.

In particular, he said, he is struck by the country's capacity for innovation.

"If you look at the number of patents issued in China versus the country's spending on research and development (R&D), it's truly impressive," he noted.

He explained that while R&D investment increased steadily, the country's patent numbers have grown rapidly over the past decade, underscoring China's efficiency in translating investment into tangible results.

In recent years, China has paid greater attention to and placed more importance on the Middle East, said Attias, who also chairs the FII Institute Executive Committee.

"Chinese companies are already very present in terms of telecommunications, energy, infrastructure, refineries, so definitely the whole spectrum," he said. "I wouldn't be surprised if one day we see even more Chinese companies in the emerging sectors like entertainment and sports."

He suggested that China and the Middle East work to deepen mutual understanding and strengthen collaboration. "I know how talented the Chinese people are and I'm sure that they would expand more and more in this very dynamic region of the world," he said.

Speaking about China's ongoing formulation of its 15th Five-Year Plan for National Economic and Social Development, Attias praised the country's approach to long-term planning.

"What this plan is about makes a lot of sense, and I couldn't agree more with leaders who have a plan -- because it is a tangible tool of leadership. True leadership must have a vision," he said, adding that China is "absolutely" on the right path.

In the face of global challenges, major nations such as China and Saudi Arabia "have a lot to offer," Attias said. "What we need to do is open to dialogue, international collaboration, and partnerships."