President Donald Trump isn’t the only CEO headed to Saudi Arabia. One of the key initiatives to be rolled out during President Trump’s inaugural overseas trip to Saudi Arabia will be a meeting of leading CEOs from the United States and the Kingdom for the Saudi-US CEO Forum.
Coinciding with the President’s visit in Riyadh, and being held under the auspices of the Custodian of the Two Holy Mosques King Salman bin AbdulAziz Al Saud, this business forum will become an annual event to drive employment and economy for both countries. It will reinforce the powerful and strategic alliance between the United States and the Kingdom. It is a change to develop actionable partnerships, collaboration and investment opportunities catalyzed by the Saudi Arabia Vision 2030 to create jobs and drive economic diversification.
The United States and Saudi Arabia have been close allies in business for 80 years and have a long history in dealing together in areas of oil and gas, aviation, healthcare, technology, manufacturing, and infrastructure. This forum will ensure new Memorandums Of Understanding are built and jobs are also created in both countries.
The list of those confirmed to attend and speak, reads like a who’s who in the business arena in the United States, including Jeff Immelt, Chairman and CEO of GE, Chuck Robbins, CEO of Cisco, Laurence Fink, Chairman and CEO of Blackrock, Andrew Liveris, Chairman and CEO of Dow Chemical, and Michael Corbat, CEO of Citigroup.
Being held under the theme of “partnership for generations,” leading business figures from Saudi Arabia set to attend include Amin Al Nasser, President and CEO of Saudi Aramco, Yousef Al-Benyan, CEO of SABIC. The Forum will feature four roundtable discussions. HE Khalid Al Falih, Saudi Minister of Energy, Industry and Mineral Resources, will chair a session on industrial capacity building, while HE Dr. Majid Al Kassabi, Minister of Commerce and Investment, will lead a discussion on the progress the Kingdom has made to foster business partnerships.
Speaking recently about investment opportunities in Saudi Arabia, Jay Collins, vice chairman of corporate and investment banking at Citigroup, said “We have recently been given a license to operate in the Kingdom, and we are very proud to be there, and we are reinvigorated in Saudi Arabia. The changes in the Kingdom are going to be historic, with privatizations, and fund raising. They will lead global capital markets in the region.”
Another well known American company putting a lot of new investment in Saudi Arabia is GE, who recently announced it would invest at least $1.4 billion in the Kingdom, and create 2,000 new jobs geared to hiring Saudi citizens.
With numerous bilateral agreements expected to be signed by some of the best known CEOs from both countries, this upcoming historic business gathering in Saudi Arabia is already generating the enthusiasm for businesses and investors in the United States and the Kingdom.