Alibaba Group Holding Ltd (NYSE:BABA) is actively seeking partnerships with local firms in Saudi Arabia and the United Arab Emirates as part of China’s broader initiative to strengthen relationships with the Gulf countries.
Alibaba’s president, Michael Evans, highlighted the company’s unique approach to collaboration during a panel at Dubai’s World Government Summit.
He emphasized Alibaba’s commitment to partnering in local markets, citing recent ventures in the Gulf Cooperation Council (GCC), UAE, and Saudi Arabia as examples of how the company integrates into regional dialogues and developments, Bloomberg reports.
This strategic move comes as Alibaba aims to recover from a period of regulatory challenges and strategic errors that saw the company lose its leading …
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