The Green Silk Road

Okay, ladies and gentlemen, good afternoon and thank you for having us and welcome to what I want to call it the China session for this year's Abu Dhabi Finance Week. It's our first time to be here and we are gathered here today to explore a seam that is pivotal to our future and to bridge the east and west. The green silk road, the new opportunities for China and UAE. And today we have two representatives from leading Chinese enterprises. They are the explorer for green practices and they are the drivers of China UAE collaboration.

So first please tell everyone here who you are a brief introduction start from 10.

Okay.

Thank you Elu. So hello hello everyone. So this is Tenda. I'm from Lumi. So which is biggest manufacturer of solar panels and and the green hydrogen.

Thank you.

Okay. Snow. I'm Snowy and we are the single family office and Sabah is the firm invest firm we established in Abu Dhabi and in China I have also Chinssung Capital. So me and my cousins we are heavily invest in Chinese uh frontier technology and especially embodied intelligence. These days this we have been invested about 90 90 companies in China and already uh listed in Hong Kong and in China about 40 companies and we are currently manage about $7 billion asset under our investment fund and uh I am 60% of my time based in Abu Dhabi.

Okay. So uh Lunji actually in China everybody knows about LJI because you are the global leaders in photovolta tax in new energy sectors. So tell us how do you understand the uniqueness of the middleless market and what's your strategy layout here and tell us some of your successful landmark green project here in UAE.

Okay thank you Ido. So if tell me about the importance of the Middle East here for sure we think that the Abu Dhabi and the UAE and even for the Middle East that could be the most attractive market all over the world and if we think about we look at about the sun radiation here we have the best sound radiation and also we know that the UAE is very knowing about it and petrol but uh which lucky for us that the government is encouraging uh for the renewable energy and the decapon organization for the whole industries. So we think that like Middle East, UAE and Abu Dhabi that could be our most important market right now and also in the future and also thanks to the u the cooperation thanks to the trust of our partners. So we uh just within five years we already delivered several landmark project. So not only in Abu Dhabi but also if you guys heard about that there was a 800 megawatt project in Qatar that project was specially designed for the world cup in Qatar.

So that could be and also we got several very successful reference in Saudi. So you can see like landmark in every countries and we hope that this landmark can give you can give these countries this kind of region a lot of example about the green energy.

Okay. and Snow a very successful Chinese investor as you said like right now 70% of your time is here in Abu Dhabi so from a investment institution perspective how do you see the opportunities rising from Abu Dhabi's green energy transition and what's your investment layout portfolio here in this area

I think uh Abu Dhabi is not only showing us only Abu Dhabi Abu Dhabi show us the world so I'm very happy to be here and also our portfolio company comes a lot to Abu Dhabi actually you know it's a very good chance for us to expand from China so we actually seeing Abu Dhabi as our anchor uh mean not only for Mina global headquarter for ourself so we are here expand from Abu Dhabi to the region we have in Saudi we have in Qatar we have in Kuwait we are now going to Oman and we are also expand from here to the mid uh to the Africa so we are already in DRC Congo, Zimbabwe and also uh Rwanda. So we are also now recently enter Turkey.

Wonderful. So you just uh explained to us your layout here in the Middle East area and now let's discuss a little bit of the localization strategy because we know that it's really hard to enter a new market especially with a new market with cultural differences. So uh 10 uh tell us about what's the biggest cultural differences or business practice conflicts that you have encountered here in the Middle East and how do you use your localization strategy to encounter this differences and make successful here in this area.

Okay, thank you. I think to personally to me like the biggest challenge for me is that I have to use sun cream every day. Sun cream every day.

Yeah. And also the kebab is so big. So my wife control me a lot about that. So but yeah if regarding to the challenge here we as though I think everybody know that like in Middle East the tariff is the lowest in the world in the world in the worldwide. So the mean that not only the price competition is not workable here.

So to me that like we need to bring our latest technology like just like what the LG proposed like be back contact which is highly suitable for the market here and also um Middle East and unfortunately or fortunately we there is the most crucial weather and environment here. So it means that like not only to the latest technology should prove it stability and sustain mobility. So yep that's why we bring our talent here. So you can see like what the the reference and also the tracking record from London for the project we are highly suitable already suit already suitable for this local market and meanwhile like we already have the branch office and uh in in in UAE. Uh this branch office will cover in the Middle East and North Africa.

Uh meanwhile we have more than 15 employees uh in in not only in UAE but also in the home countries and also we cooperate with the local universities to bring just empowering the young generation and for the R&D just to let let them to know what is the technology from solar hydrogen and ESS and lastly we also have the the the the like academy just to let invite all the partners not only from the IP utility or the alo distributor also the end user just to join the teams join our the whole industry just to experience okay what is the solar what is renew manage

okay and snow uh as a Chinese uh investor Chinese investment institutions that's deeply integrated into the Middle East market what's your successful key For localization here,

I think first you have to believe what you do and second you need to have a China face. So one of the owner need to live here. You have to buy home.

You think the China face is helpful here?

You have to buy home, app, apply gold visa to make your life very easy here. Then you need the China speed. Then you need a China story.

China speed. How do you understand this China speed?

Uh efficiency and also execution.

Okay. Uh and I think we just explained to everyone here our strategy uh in the Middle East, our localization plan. And so from two of your perspective, what do you think is the core competitiveness of Chinese enterprises entering the Middle East market? Ten.

Okay. Thank you. So that's a very good questions. I think also the question we always ask ourself several times during the business. The first one I think like just what no mention that the first one is efficiency because the world changes so fast not only by the technology but not only by the service but because we are for solar we are working for the 25 years and 13 years business.

So efficiency, sustainability and reliability that will be the key things for us. A second one that will be the localization because we are so we are the Chinese company but the mean we are focused on the worldwide business. So that means that we need to be fully localization so that we can yes we are from China but we are but we are also from UAE.

Okay. And I think Snow just mentioned that she think the China face is helpful. Do you think the China phase is helpful here in this region? Uh it's helpful sometimes especially after the sun cream.

Okay. So snow your feeling the competitiveness of Chinese enterprises in this area.

You know we have to be localized. So one of our portfolio company we are operating about 100,000 square meter now already in Abu Dhabi about all your guest equipment. So our staff we have about 400 people here now uh in this in the manufacturer but we are smart manufacturer. So first you have to be smart. So we don't need a lot of stuff.

Second, uh we are not only have Chinese, our general managers from India, we have all over the world. This is I think localizing UAE is not only working with UAE nationality. I do have a UAT staff but we are also having maybe 40 country different countries who uh working for us. So actually is again a lots of experience for us and I think if you can survive in China, you have the top leader in China. You need also to be uh thinking forward thinking that to work in UAE.

But my my my belief is that if you can survive in UAE especially Abu Dhabi, you are the top companies in the world.

Wow. Yeah. Here can comes from the applause. Thank you. And for the time concerned, we only have three minutes left.

My last question is that what breakthrough progress can we realistically expect in China UAE green cooperation in the next five years? 10.

Okay. In my opinion and I think the next five years that will be very important. We can we can see that for the government in UAE they already announced their uh vision and the mission. So by on uh by 2015 the renewable energy consumption will be around 50%. So it to me that we need to um accelerate the integration of the technology and the capital just like what Abu Dhabi is famous for.

We always say Abu Dhabi is the capital of the capital. So the integration of technology and also the the the capital that will be the key things then we will be attract a lot quite a lot of investment and opportunities happen here and also the second one I think I will be the re we will redefine the meaning of one road because not only Abu Dhabi we can use we can make Abu Dhabi just and har and example and and reference and covering the country nearby. not only in m middle east but also north Africa and Africa.

Okay. So now your expectation for the next five years

I think uh Abu Dhabi you already see what happening Abu Dhabi finance week. So of course this is not only the future I think we don't see next five years. Abu Dhabi can show us next 20 years. So I'm very happy I'm very fortunate to be here.

Okay. So one sentence to conclude the dialogue today. Snow what you want to say? I want to say that let let China to tell you about China.

Okay. T what you want to say?

Uh let the China tell about the China again.

Okay. So in China we have an old saying when something is important please repeat it three times. So my last sentence is also let China tell you about China. And thank you so much for having us. Hope to see you next year.

Thank you.

Thank you.