In a strategic move to bolster Saudi Arabia’s role in global supply chain networks, investment firm ewpartners, formerly eWTP Arabia Capital, announced on Nov 4 a $50-million investment in Chinese tech company Lenovo Group’s supply chain solutions division Leshines.
The announcement was made at the Future Investment Initiative conference in Riyadh. Also known as “Davos in the Desert”, it is a key global platform that drives transformative investments and fosters international partnerships for sustainable economic growth.
Backed by the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, ewpartners has been active in Saudi Arabia since 2017 and was the first investment firm to launch a cross-border platform between China and the kingdom.
ALSO READ: Chan: Saudi Arabia keen on cooperating with HKSAR
The investment is expected to accelerate the localization of Leshines capabilities in Saudi Arabia, further strengthening the kingdom’s position as a vital player in sustainable global trade networks and supply chain operations.
Jerry Li, founder and managing partner at ewpartners, said the latest investment is a significant step toward building the future of Saudi Arabia.
“By partnering with Leshines to bring advanced supply chain solutions to Saudi Arabia and the Middle East and North Africa (MENA) markets, we further assist Chinese companies in exploring localized production and empower local enterprises, aligning with the kingdom’s Vision 2030,” said Li.
READ MORE: Hong Kong stock exchange to open office in Riyadh in 2025
Alan Zhou, chief operating officer of Leshines, said the company will take the opportunity to establish roots in Saudi Arabia, focusing on the MENA region, and build the foundational strategic capabilities of an advanced digital supply chain.
Through the partnership, “we are confident that Saudi Arabia will become an important node in the smart supply chain platform”, said Zhou.
In May, Lenovo and Alat, a subsidiary of PIF, announced a strategic collaboration, including a proposed $2-billion investment.
READ MORE: Chan: Saudi listing of 2 ETFs tracking HK stocks to attract more investors
Leshines is also exploring the possibility of entering the KSA-Sino Logistics Special Economic Zone at King Salman International Airport in Riyadh. The initiative to launch the logistics special economic zone was unveiled by Saudi Arabia’s Ministry of Transport and Logistics Services in October.
Managed by ewpartners, the zone will cover a total area of 4 square kilometers. It will enable international companies to manufacture locally in Saudi Arabia and then springboard their distribution to other markets worldwide. It is expected to attract over 3,000 wholesalers and retailers and around 200 light industrial manufacturers from China and other parts of Asia.
