SABIC at Boao forum for Asia 2024: unlocking synergies for sustainable growth

SABIC, a global leader in diversified chemicals, today issued a resounding call to action at the Boao Forum for Asia (BFA) Annual Conference 2024, urging companies around the world to unite and create the synergies that drive sustainable growth. Building on its 16-year strategic partnership with the BFA, SABIC remains committed to fostering collaboration among companies and countries that are connected by product value chains.

Abdulrahman Al-Fageeh, SABIC CEO and member of the BFA Board of Directors, delivered a keynote speech at the event’s opening plenary as a representative of the global business community. Echoing the theme of this year’s conference, “Asia and the World: Common Challenges, Shared Responsibilities”, Al-Fageeh expressed SABIC’s belief that the synergies created by collaborating across value chains, industrial sectors, and technological innovations enable companies to constructively overcome common challenges and equitably fulfill shared responsibilities.

“Companies have to collaborate more with one another and with affected stakeholders to create the synergies that drive sustainable growth,” said Al-Fageeh. “For many years now, China has been major leading market for chemical products. It’s therefore no surprise that SABIC has long been in the market creating synergies that allow us to meet our responsibilities to all key stakeholders while contributing to the development of new quality productive forces that support high-quality sustainable growth.”

Underscoring its advocacy for sustainable economic growth, SABIC also showcased a number of innovative solutions at its exhibition booth at the BFA Annual Conference. These advanced materials and service solutions are helping to create synergies with customers and partners from a wide range of industries, supporting key applications that accelerate the world’s transition to a circular carbon economy. In May this year, SABIC also plans to partner with BFA to host the first-ever BFA conference in Riyadh, aiming to drive cross-regional and cross sector collaboration while deepening economic cooperation within Asia.

In addition to actively supporting BFA for more than a decade and a half, SABIC has steadily expanded its presence in China since entering the country in the 1980s. Most recently, SABIC’s joint venture with Fujian Energy Petrochemical held a groundbreaking ceremony to begin construction of a new 44.8-billion-yuan world-scale petrochemical complex.