Saudi government efforts are now funneled into promoting the Kingdom as an investment and tourism destination and a platform for commercial opportunity. Especially in five vital sectors: healthcare, energy, industry, tourism and financial services.
The first-ever US and Saudi Business Leaders Forum, a stop in a tour Saudi Minister of Commerce Majed Al-Qasabi is taking, was held to encourage investment in Saudi Arabia.
Several prominent figures, including US Secretary of Commerce Wilbur Ross, US Ambassador to Riyadh John Abizaid and Saudi Ambassador to the United States Princess Rima Bint Bandar Bin Sultan attended the forum, which saw the participation of around 110 major US investors.
Al-Qasabi, speaking at the forum, highlighted a number of achievements recorded since the launch of the Vision in 2016. Among those, he said, is the great start to the tourism sector, the selection of the Kingdom to be the first Arab country to organize the G20 summit, allowing full ownership to foreign investors, and the reforms aimed at empowering women professionally and socially.
“Our economy today is stronger than ever and we are ranked 18th among the top 20 global economies. We have a rich culture and heritage that our visitors can explore, and we have new fast-growing sectors that provide great economic opportunities to our citizens and foreign investors alike and at all levels,” Al-Qasabi said.
“We are in the midst of a dynamic and fast growing region that includes more than 424 million consumers, and there are more than two billion consumers that do not need more than 3 hours of air travel to reach each other’s destination.
In addition to this, we have been playing a leading global role in the energy field for years, in addition to our other natural resources which make us an excellent platform for manufacturing and production in many sectors and industries that need large energy resources,” he added.