US-SABC members invited to visit KAEC

Mohanud Helal, secretary-general of the Economic Cities Authority (ECA), addressed the US-Saudi Arabian Business Council (US-SABC) in Washington on Aug. 17. The meeting focused on leveraging and capitalizing on the strong economic ties between the American and Saudi business communities.
The event was hosted and organized by Edward Burton, president and CEO of the US-SABC, and the executive team, and sponsored by the international law firm Mayer Brown, represented by Charles Hallab, corporate and securities partner at Mayer Brown and board member of the US-SABC. Hallab was also the moderator of the event.
Helal focused on introducing ECA and the economic cities to the US-SABC leadership and members, which included various top executives from American firms, saying: “This is a very exciting opportunity to present ECA and the progress that we have made in pursuing the economic cities agenda. It is important that we convey to our colleagues at the US-SABC the opportunities that the economic cities present to leaders in the US.”
He explained the Vision 2030 and the role that ECA played in realizing the Vision’s goal of creating a vibrant society, a thriving economy and a nation ambitious to achieve new levels of effectiveness, transparency, accountability and performance. He highlighted the function of ECA as a facilitator and regulator dedicated to creating an investment-friendly environment while providing swift and efficient government services to both investors and residents.
Outlining a new Saudi Arabia set to welcome foreign investment, Helal listed the various international cooperation agreements that it is forging in order to motivate an exchange of expertise and transfer of industries. He also explained the Kingdom’s growing dedication to establishing public-private partnerships as economic policy.
Helal wrapped up his remarks by inviting the US-SABC and its members to visit the Kingdom and see opportunities for themselves.
The meeting commenced with welcome remarks by Hallab, followed with speeches by Burton, Helal, who gave a brief about ECA, the business model and the investment opportunities in the economic cities, and a video presentation about King Abdullah Economic City (KAEC), and Mike Wysong, chief financial officer, Building Technologies & Solutions and Global Products at Johnson Controls.
Wysong spoke about his company’s positive experience with ECA and KAEC and the benefits of moving into KAEC early on. He also encouraged American companies to establish their businesses in KAEC.
The meeting concluded with a question and answer session moderated by Hallab, who delivered the closing remarks.