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China’s Belt and Road Investments in the Middle East surge to $39 billion
Saudi Arabia topped the rankings, securing $18.9 billion in BRI investments, followed by Iraq with $9 billion and the UAE with $3.1 billion.
Middle Eastern nations secured $39 billion in investments and construction contracts from China’s Belt and Road Initiative (BRI) in 2024, making the region the largest beneficiary of the infrastructure program, according to the China BRI Investment Report 2024.
The report—published by the Fudan International School of Finance and the Griffith Asia Institute—revealed that this marks a 102% surge in Chinese construction contracts, further cementing the region’s role as a key partner for Beijing.
Saudi Arabia led the rankings with $18.9 billion in BRI investments, followed by Iraq at $9 billion and the UAE at $3.1 billion. China’s oil and gas investments hit a record $24.3 billion, primarily focused on processing facilities, including an $8 billion oil refinery deal in Iraq.
Meanwhile, green energy projects gained traction, with China allocating $11.8 billion to solar, wind, and waste-to-energy initiatives across the region.
Amid global trade uncertainties and shifting investment priorities, experts expect China to continue focusing on energy, mining, and infrastructure development in the Middle East.
Recent trends highlight China’s commitment to expanding infrastructure connectivity, digital trade, and green energy as part of BRI’s evolving strategy. Countries like Egypt and Turkey are also witnessing greater involvement in infrastructure projects.
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