Saudi-US Business Council, Investment Ministry Enhance Investment Opportunities

The Saudi-US Business Council, in collaboration with the Saudi Ministry of Investment, organized a discussion session in Houston, Texas, aimed at enhancing cooperation between major American companies and the thriving Saudi industrial sector.
 The event was attended by 25 senior representatives of American companies, alongside representatives from the Ministry of Investment's Washington office and the ministry's Machinery and Equipment Sector.
 Ministry of Investment Associate Director of the Americas Office Abdullah Al-Khodair opened the session with an overview of Saudi Vision 2030 and the significant transformation in the promising investment environment. He emphasized the ministry's pivotal role in facilitating the flow of foreign investments into the Kingdom.
 The ministry's business development manager, Maen Al-Khamis, reviewed the competitive advantages of the machinery and equipment sector, highlighting the financial incentives, advanced infrastructure, and the vast opportunities offered by the growing Saudi market.
 The Saudi-US Business Council highlighted the strategic transformations occurring in the Kingdom's manufacturing sector, noting that the sector is achieving an annual growth rate of 7.5%, making it the third-largest contributor to the non-oil economy.
 The council also pointed to promising industrial projects valued at $1.4 billion, as well as Saudi imports of American machinery and equipment, which amounted to $4.4 billion in 2023.
 These figures underscore the growth opportunities available to American companies, particularly in light of strong government support, a vast domestic market, and advanced infrastructure, which solidify the Kingdom's position as a key destination for sustainable industrial investment.
 In his speech, Saudi-US Business Council chief executive Charles Hallab emphasized the importance of the event. "This session reflects the council's commitment to enhancing relations between American companies and the Saudi industrial sector," he said.
 "Such meetings highlight the immense potential offered by the Saudi Vision 2030 and reflect a strong alignment between American innovation and Saudi economic ambitions. We believe that these discussions pave the way for fruitful and sustainable cooperation," Hallab said.
 Moreover, a session, moderated by Saudi-US Business Council senior vice president David Callahan included discussions on key topics such as the requirements for establishing manufacturing facilities in the Kingdom, visa facilitation, and future cooperation between the two sides.