Tianjin inks $80m deal to introduce China's industrial expertise to Middle East
Tianjin's Binhai New Area has signed an $80 million investment collaboration on Thursday with Saudi Arabia-based global investment firm ewpartners to introduce China's mature industrial systems and supply chain capabilities to enhance the kingdom's manufacturing competitiveness.
The deal was signed during the 9th Future Investment Initiative in Riyadh, witnessed by officials from Saudi Arabia's Public Investment Fund and Jada Fund of Funds, the kingdom's national fund-of-funds platform.
The collaboration supports Saudi Vision 2030, a national strategy which focuses on economic transformation and industrial diversification, while backing ewpartners Fund II — targeting digital, advanced manufacturing, logistics and consumer sectors — to grow Saudi's private equity and venture capital ecosystem. For China, it marks a key step in Tianjin's industrial expertise "going global" and aligns with the Belt and Road Initiative.
As China's second national-level new area after Shanghai Pudong, Binhai New Area boasts a $108 billion GDP and hosts over 240 Fortune Global 500 firms. It has solid foundations in sectors such as petrochemicals and electronics, fast-expanding new energy, smart manufacturing and digital economy. Its world-class ports also link Asian and Middle Eastern industrial clusters.
"We look forward to leveraging Tianjin's strengths in smart manufacturing, technology and port logistics to deepen cooperation with Saudi Arabia and the broader Middle East, and to build a long-term, open and mutually beneficial international partnership," said Wu Di, vice-chairman of the administrative commission of Tianjin Binhai Hi-tech Industrial Development Area.
The initiative will integrate Binhai's strengths in new energy and industrial logistics with ewpartners' regional network to accelerate technology transfer and industrial upgrades in the kingdom and the broader Gulf region.
Bandr Mohammed Alhomaly, CEO of Jada Fund of Funds, said the vision of linking China's industrial and investment strengths with Saudi Arabia's growth platforms reflects "our shared dedication to Vision 2030 and to building a thriving private capital ecosystem in the kingdom".
Jerry Li, co-founder and managing partner of ewpartners, said the partnership is not just about connecting capital. "It's about connecting industries and innovation capabilities. We aim to bring China's proven expertise in manufacturing and technological innovation to the Middle East, driving high-quality regional development," he said.
