WASHINGTON: As a clear illustration of growing US-Arab business relations, the National US-Arab Chamber of Commerce (NUSACC) brought out a special edition of its magazine, US-Arab Tradeline, that highlights the opening of King Abdullah University of Science and Technology (KAUST) and emphasizes the growing commercial relationship between Saudi Arabia and the US, according to a press release.
NUSACC was represented at the grand inauguration of the world’s newest graduate-level research university on Wednesday.
“KAUST represents a vital step in Saudi Arabia’s transition to a knowledge-based society,” said NUSACC President and CEO David Hamod. “Saudis will gain access to some of the world’s most sophisticated research and researchers, enabling the Kingdom to tap into state-of-the-art science and technology that has the potential to have a profound impact on the nation’s economic development and quality of life. We congratulate King Abdullah and the people of Saudi Arabia on this remarkable achievement.”
Adel Al-Jubeir, Saudi ambassador to the United States, said: “There is a clear focus on revitalizing every aspect of the Saudi economy — including regulations which make the Kingdom a friendly place to invest and do business and its efforts to provide Saudi citizens with the ability to compete in a global marketplace.”
In a similar vein, US Ambassador to Saudi Arabia James Smith noted: “Small and medium enterprises (SMEs) are one of the main foundations of economic growth and development. I am certain that SMEs will benefit from the new discoveries and innovation undertaken at KAUST.”
With regard to ease of doing business, Amr Al-Dabbagh, Saudi Arabian General Investment Authority (SAGIA) governor, said “regionally, we are ranked No. 1.”
