New York and Riyadh- Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Premier and Minister of Defense concluded his two-week business visit to the U.S. by signing an agreement with Bill and Melinda Gates Foundation and granting 3M Global an operating trading license.
Prince Mohammed, who is also the Chairman of Board of Directors of Misk Charitable Foundation, signed a cooperation agreement for training Saudi leaders working in the charitable field, transferring the best means of governance to charitable foundations and developing charitable products in Saudi Arabia.
The Deputy Crown signed the agreement with Saudi Ministry of Labor and Social Development and with the co-chairman of Bill and Melinda Gates Foundation, Bill Gates.
Meanwhile, 3M Global announced it had started building in Dammam the largest manufacturing facility as part of the long-term partnership with the Saudi government.
3M has been granted by the Saudi government an operating trading license allowing it to enter the Saudi market. Thus becoming one of only three companies to be granted 100 percent ownership and the ability to operate and invest in Saudi Arabia.
Executive Vice President of International Operations for 3M, H.C. Shin said: “3M is honored to be one of the first companies to receive a license to fully do business in Saudi Arabia.” He added: “As a global leader in developing innovative solutions, we look forward to a strong partnership with the Saudi government that strengthens our operations in the region while supporting their goals of diversifying their economy and driving growth.”
Shin added in the statement that 3M has been in Saudi Arabia since 1980.
“It currently provides technical support through a Technical and Scientific Office, and operates Customer Technical Centers and a Learning Center in Riyadh, Jeddah and Dammam. In December 2015, 3M broke ground on a facility in Dammam that will be its largest manufacturing site in the Middle East and Africa region upon completion,” he explained.
3M officially received the license at a ceremony held in New York City during Deputy Crown Prince Mohammad bin Salman’s visit to the United States. The Saudi government has set out a multi-year plan to increase foreign investment, and granting foreign-owned trading licenses which represents an important step toward achieving its goals.
With $30 billion in sales and 90,000 employees, 3M Global applies science in collaborative ways to improve lives daily.
Lastly, Deputy Crown sent a cable to U.S. President Barack Obama thanking him for his warm reception and generous hospitality.
The following is the text of the cable sent to Obama:
“President Barack Obama,
I am pleased as I am leaving your friendly country after the end of my official visit to extend to your Excellency my deep thanks for the warm reception and generous hospitality accorded to me and the accompanying delegation.
Mr. President: I would like to commend again the historical and strategic relations between our two countries witnessing further development in all fields, stressing that the discussions held during the visit will contribute to deepening and strengthening these relations and enhancing the bonds of mutual cooperation to achieve the interests of our two countries and their friendly peoples under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and your Excellency.
I wish Your Excellency constant good health and happiness, and the friendly people of the United States of America further progress and prosperity.
Mohammed bin Salman bin Abdulaziz Al Saud
Deputy Crown Prince
Second Deputy Premier and Minister of Defense.”
The Deputy Crown Prince then flew to France from the U.S. in response to an invitation from the French government.