RIYADH: The US-Saudi Business Council has invited an American delegation to visit the Kingdom as part of a business-development mission designed to enhance investment and trade partnerships.
The delegates will attend the fifth annual Future Projects Forum, which will take place on May 22 and 23 at the Four Seasons Hotel in Riyadh, and meet members of the Chamber of Commerce, the Saudi Press Agency reported on Wednesday.
They will also meet members of the business council and representatives of US companies already doing business in Saudi Arabia, to help build relationships and facilitate dialogue between business communities in the two countries.
Susanne Lendman, executive director and interim president and CEO of the US-Saudi Business Council, said the delegation includes representatives of seven American companies, some of which are newcomers to the Saudi market interested in providing products and services that meet the needs of the growing construction sector in the Kingdom. These needs include building materials, architectural services, maritime security solutions, food- and beverage-processing equipment, artificial intelligence, and engineering and consulting services for the construction and energy sectors, she added.
“Organized by the Saudi Contractors Authority, the Future Projects Forum gathers contractors, public- and private-sector owners to learn about future projects presented in detail by Saudi government and private entities. Previous (forums) showcased 9,450 projects valued at $704 billion,” the business council said, as it described the Kingdom as one of the world’s largest construction markets.
“Saudi Arabia, the fastest-growing G20 economy in 2022 and the world’s sixth-most competitive nation, has project opportunities estimated at over $1 trillion in sectors such as infrastructure, real estate, tourism, leisure, transportation, health care, energy and utilities,” it added.
“Saudi Arabia’s newly launched Circular Carbon Economy National Program and the Saudi Green Initiative to achieve net-zero emissions by 2060 will provide opportunities for renewable technologies and products to improve energy efficiency.”