The Saudi Basic Industries Corporation (SABIC) is seeking to expand collaboration with the business sector in Singapore, and to continue to be a reliable source of quality products and services to Asia. This strong interest in Singapore and Asia, SABIC’s largest market, was conveyed by Prince Saud bin Abdullah bin Thenayan Al-Saud, chairman of SABIC and the Royal Commission for Jubail and Yanbu, and SABIC Vice Chairman and CEO Mohamed Al-Mady to Lee Yi Shyan, Singapore’s senior minister of state, Ministry of Trade and Industry, and National Development, during his visit to SABIC headquarters in Riyadh on March 20.
SABIC’s Asia operations, which have been experiencing a strong double-digit growth, are headquartered in Singapore. The two sides exchanged views on how to further these business relations, Singapore being the hub of SABIC’s regional operations.
In comments after the discussions, Prince Saud said that SABIC is proud and privileged to partner with Singapore’s vibrant business sector. “Saudi Arabia has had an excellent history of relations with Singapore, and has seen many high level visits from both sides. We are experiencing a growing trend in these relations and SABIC is well positioned to be part of this growth story,” he said.
Al-Mady said Singapore’s strategic location facilitated easy access to Asian markets. “It makes it easier for us to conduct business with our customers in the region, adding value to our regional operations and helping us grow. Moreover, Singapore’s skilled workforce and advanced infrastructure strongly supports our long-term goals for growth in Asia, and creates value for our customers,” he said.
Besides its headquarters in Singapore, SABIC’s Asia operations are spread across 40 offices in the region, with three technology and innovation facilities. Asia is SABIC’s fastest growing region globally.
The minister of state was accompanied by Desmond Ng, charge d’affaires ad interim; Francis Chong, director, Ministry of Trade and Industry; Goh Wee Hong, deputy director, Building and Construction Authority; Feroz Siddiqui, director, International Enterprise Singapore Center; Khalil Abu Bakar, director, Economic Development Board Center; Desmond Chua, assistant director, Ministry of Trade and Industry; Guo Weimin, first secretary; and Akshay Kothari, embassy officer.