Middle-east Arab News Opinion | Asharq Al-awsat

General Electric: Our Investments in Saudi Arabia Doubled to USD4.5 Billion | ASHARQ AL-AWSAT English Archive 2005 -2017
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Vice Chairman of General Electric Co. John Rice and Saudi Governor of Small & Medium Enterprises Ghassan Ahmed Al Sulaiman pose for photos after signing their agreements at the Saudi-US CEO Forum 2017 in Riyadh, Saudi Arabia May 20, 2017. REUTERS/Hamad I Mohammed

Riyadh- John Rice, Vice Chairman at General Electric Co., said that the company’s investments in Saudi Arabia have doubled to reach USD4.5 billion, stressing the commitment to support the Saudi vision through focusing on four basic aspects: increasing productivity and efficiency, strengthening capacity, transferring technology and knowledge and diversifying the economy.

Rice told Asharq Al-Awsat that the company’s investment in the kingdom doubled to USD4.5 billion and job opportunities tripled reaching more than 2,200.

He added that the company announced on Sunday the signing of MoUs and projects with Saudi Arabia worth USD15 billion – USD7 billion for purchasing solutions and techniques from GE. These agreements cover many sectors and partners for the sake of creating a sustainable platform for economic diversification and for supporting Saudi Vision 2030.

Rice continued that the company coordinates with various authorities, ministries, and public institutes to raise awareness on digital technology and prioritizes the development of local skills and talents.

GE partners with Aramco, Saud Industrial Investment Group, Saudi Arabian Mining Company and the Ministry of Energy, Industry and Mineral Resources to reinforce energy generating abilities and to push the production and efficiency through digital solutions in the fields of oil, gas, and mining, said GE vice chairman.

He tackled the digital transformation of the healthcare sector, which is considered one of the government’s priorities.

Speaking on the future of investment, trade and economic partnerships after the visit of US President Donald Trump to the Kingdom, he said that economic relations and partnerships between Saudi Arabia and the US are historic.