Saudi industrial firms gain as US facilities step up role

Updated 10 December 2017
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Saudi industrial firms gain as US facilities step up role

JEDDAH: The Saudi Arabian General Investment Authority (SAGIA) said that the number of American facilities in the Kingdom increased in December 2017 to 462, with a total capital exceeding SR56.7 billion ($15.1 billion), according to a report published by Al-Eqtisadiah newspaper on Dec. 7.
The report quoted a SAGIA statement of Dec. 6 made during a visit by a US delegation representing major American companies in Riyadh. The SAGIA statement noted that most of the American investments are in the industrial sector, where the investment reached a total of $11.8 billion, making about 78 percent of total American investments in the Kingdom.
Moreover, SAGIA added that Saudi Yanbu Petrochemical Company (YANPET) has the biggest share of American investments, and the total funds of this company reached $5.2 billion. The other company, which also received a big share of investments, is Saudi Aramco Mobil Refinery Company Ltd. (SAMREF), with total funds of $2.5 billion. Both YANPET and SAMREF operate in the petrochemical field.
SAGIA’s statement added that 14 licenses were issued in 2017, with a total fund of $101.7 million. Some of the main licenses offered include the global offshore contract driller RAWAN with a total fund of $50 million, and the health care company TADAWI with a total fund of $26 million. One of the most important cooperative projects with the US, which was licensed in 2017, is the Saudi-American Early Intervention center, which offers services to people with special needs.


We have a story to share with the Saudi people, says new US official in Riyadh

Cultural and educational exchange programs between Saudi Arabia and the United States help build stronger ties. (AN photo)
Updated 19 September 2018
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We have a story to share with the Saudi people, says new US official in Riyadh

  • We have a story to tell and a story to share in Saudi Arabia with the Saudi people. We are pleased that so many Saudis want to study in the United States: US Public Affairs Counselor in KSA

RIYADH: Cultural and educational exchange programs between Saudi Arabia and the United States “help build stronger ties between the two countries and bring them closer together,” according to Brian Shott, the new US Public Affairs Counselor in Saudi Arabia.

Speaking at a reception to welcome him at the US embassy in Riyadh on September 18, he said: “One of the main things we do is we try to share aspects of the United States and of American culture, but we also learn from Saudis and Saudi culture.” 

In her opening speech, the embassy’s Deputy Chief of Mission Martina Strong also highlighted the enduring relationship between the two countries, saying: “Tonight is a celebration, a celebration of a friendship that has extended over many, many decades.”

Shott, who previously served in Morocco, Cairo and Baghdad, will be in Saudi Arabia for the next two years, during which he will promote educational and cultural exchanges.

“There are some real opportunities here and we have been fortunate enough to be able take advantage of partnerships with Saudi organizations and Saudi agencies, whether it is the General Authority for Culture or the Ministry of Education,” he said.

“We have a story to tell and a story to share in Saudi Arabia with the Saudi people. We are pleased that so many Saudis want to study in the United States.”

Meanwhile, the reception also served as a farewell to Robin Yeager, the cultural attache in Riyadh. She said that it had been a “very dynamic time to be in Saudi Arabia. It has been a pleasure and an honor to be here at a time when I get to know first-hand the future that Saudis are trying to build.”

The night that women were were given the right to drive, she said she went out and saw the “thrill on their faces.” To assist with empowerment and other progressive policies, embassy staff work on social issues and provide leadership training for women’s groups, she said.

“It is beautiful because they take something that an American expert talks to them about and they turn it into the Saudi way to approach it,” she added. “It’s not that we are changing things; it’s that we are giving them tools, so they can build what they want to build.”