Saudi Arabia is committed to transferring its experience in Entrepreneurship: Fahad Al-Arjani
Having spent twenty years learning in the domain of administrative administration between Saudi Arabia and China, he spent his time studying management, entrepreneurship, strategic marketing, and building international relations. This opened the doors for us to the international market.
He started practicing in the telecommunications sector, and matured professionally in the banking sector; Until he became an executive in the technology sector and knowledge management, very passionate about building economic relations between the Kingdom of Saudi Arabia and China at the highest levels, to exchange benefits and experiences between the two countries, in a way that enhances sustainable partnership, to achieve the goals of the Kingdom’s Vision 2030 and China’s “Belt and Road” initiative.
Al-Arjani explains various details about entrepreneurship and Saudi-Chinese economic relations in this interview.
What are the most prominent services provided by the Entrepreneurship Committee of the Saudi Chinese Council? And where did the idea come from?
Entrepreneurship relies heavily on knowledge and innovation. Therefore, we are interested in transferring knowledge to entrepreneurs and startups, small and medium companies, by organizing workshops with Chinese pioneers, to increase knowledge exchange between two countries.
These workshops also aim to help and facilitate the work of major Chinese technology companies to direct their social initiatives towards young people, to hone their technical and innovative skills, which will naturally raise the self-efficacy of our youth, so that we see more entrepreneurs launching their innovative entrepreneurial projects.
How do you see the reality of entrepreneurship in the Kingdom?
With Vision 2030, the Kingdom is creating a huge wheel behind which national awareness is rapidly turning, which ultimately encourages entrepreneurs and small and mid-sized businesses to grow both at the national level as well as internationally, contributing significantly to the emergence of generations of young people who are not job seekers. Not only that, but they are also job creators and direct contributors to the country’s GDP, which in turn affects the region in general.
What are the similarities between entrepreneurship in Saudi Arabia and China?
I see that the institutional environment in both countries is clearly supportive of entrepreneurship, by continuing to raise the quality of the education sector. Which is the basic structure of the entrepreneurship environment.
Furthermore, both countries are experiencing rapid growth. This attracts entrepreneurs to launch projects that are aligned with the comprehensive visions of both countries, such as the Chinese Belt and Road Initiative and the Kingdom’s Vision 2030.
In your opinion, what are the characteristics of a successful entrepreneur?
There are basic qualities that must be present in an entrepreneur, such as entrepreneurship, innovation, and a willingness to take risks and manage risks. It is also necessary to focus on the sustainability of the entrepreneur’s project, which requires qualities such as patience, commitment, and taking advantage of growth opportunities, rather than focusing on short-term profit margins.
How can reciprocal visits promote the growth of the entrepreneurship sector, and how can they attract investments?
Undoubtedly, official visits mobilize efforts in various sectors to open markets, facilitate direct investment entry policies, enhance mutual trust between entrepreneurs in the two countries, and highlight vital sectors that are in line with comprehensive development trends.
How do our cooperation plans with China match the goals of Vision 2030?
It is known that the Belt and Road Initiative is an influential regional and international initiative, and is active in more than 100 countries around the world. China’s investments have exceeded about a trillion dollars since the initiative was officially approved in 2017, and the share in 2021 was only 6%.
Infrastructure, logistical, and industrial services sectors are targeted with sustainability policies, green economic orientation, carbon emission reductions, and circular economy principles implemented.
The plans described above are direct extensions of the Kingdom’s Vision 2030, 2030. This vision focuses on strengthening its international economic position, not just in one sector, but in a variety of sectors, to achieve comprehensive economic sustainability and stability in business.
What are the most effective efforts made to enhance the role of the committee?
The Council’s efforts are ambitious to promote and empower the Entrepreneurship Committee to support small and medium enterprises, with a focus on organizing the Saudi-Chinese Economic Forum, a platform for entrepreneurs in both countries, as well as the signing of agreements that facilitate the start-up environment for launching emerging projects in both countries, and to coordinate workshops that include sectors that are dynamic and promising, in order to serve entrepreneurs in understanding the local markets, their most recent developments, and their future.
What obstacles may entrepreneurs face, and how can they be overcome?
In fact, any journey in life is not devoid of challenges and obstacles. However, creativity, perseverance, and learning from mistakes are what give entrepreneurs the edge.
Among the most significant obstacles facing entrepreneurs, they underestimate the importance of this relatively critical element and rely inadequately on policies and regulations. This neglect may have an adverse effect on the long-term plans of the entrepreneur’s project.
Success tips You Should Address?
Sustainability today has become a strategic marketing element linked to the entrepreneur and his success. It has a direct impact on the financial and market performance of the project. The modern entrepreneur must take care of the environmental and human aspects, just as he cares about profits, for the continued success of his project financially and socially.
