Initiative helps improve connectivity, fosters innovation, sustainable growth

The Belt and Road Initiative unleashes massive opportunities for global companies, creating a promising environment for multinational corporations, business executives and industry experts said on Tuesday.

The BRI has made meaningful strides in supporting development across borders, achieved through strong cooperation between participating governments and engagement with the private sector and international financial institutions, said Standard Chartered Group Chairman Jose Vinals during the Belt and Road CEO Conference held in Beijing on Tuesday.

According to Vinals, as the BRI enters a new decade, it represents an opportunity to engage more partners in the BRI to support further high-quality development and growth in important areas such as sustainability, digital innovation, inclusiveness, resilience and connectivity.

"The BRI is a strategic focus for our bank. Our presence, as well as our BRI activity and partnerships, have enabled us to support nearly 650 BRI-related projects with a total value exceeding $111 billion over the last five years," he said.

After years of development, the BRI is considered as one of the key factors for many multinational companies in their global layout.

Mohammad A. Abunayyan, chairman of ACWA Power, said collaboration between China and Saudi Arabia within the framework of the BRI has paved the way for significant advancements in clean energy projects, and Saudi Arabia would continue to reemphasize its commitment toward China and Chinese partners.

"ACWA Power sees tremendous potential for further collaboration under the BRI, which presents the company with unique opportunities to enhance connectivity, foster economic growth and create long-term prosperity," he said during the Belt and Road CEO Conference.

"With its emphasis on high-quality cooperation, the BRI aligns perfectly with our shared vision of common development and prosperity. The BRI provides an ideal platform for us to leverage our strengths, share our expertise and foster innovation toward achieving these goals.

"Saudi Arabia and China have already laid a solid foundation for cooperation in the renewable energy sector, and we must build upon this momentum to further optimize the potential of the BRI," he added.

As a global logistics company, FedEx said it embraced the BRI's enhanced connectivity and reduced transportation costs to expand its operations across participating countries and regions.

FedEx has been deeply involved in BRI projects over the years to contribute to the stability of the global industrial and supply chains, said Eddy Chan, senior vice-president of United States-based FedEx Express and president of FedEx China.

"FedEx will leverage our strengths and expertise in the realm of international logistics by expanding our network in China and countries involved in the BRI, optimizing our portfolio of cross-border shipping services and bolstering connections between China and other BRI countries and regions," he said.

Xu Qinhua, a professor at Renmin University of China, said the BRI has brought significant development opportunities to the world in the past few years.

The BRI has facilitated numerous infrastructure construction projects during the past few years, driving significant progress in participating countries and regions, especially in sectors like railway and energy infrastructure development, said Xu.

The BRI has brought new insights to the world in terms of international cooperation, green innovation and sustainable development, she added.