The Saudi-US Chief Executive Officers (CEO) Forum kicked off in Riyadh on Saturday, under the slogan of “Partnership for Generations,” at the Four Seasons Hotel, reported the Saudi News Agency (SPA).
The forum brings together a number of ministers and officials, more than 50 US companies, over 40 Saudi companies and nine companies from key international markets.
In his speech, Minister of Energy, Industry and Mineral Resources Engineer Khalid Al-Falih highlighted the friendship between the Kingdom of Saudi Arabia and the US, which dates back eight decades, said SPA.
The friendship between the two countries contributes to achieving prosperity for the international community in general, and the two countries in particular.
Al-Falih disclosed that the relationship in the fields of trade and investment between the Kingdom and the US is part of the close friendship between the two countries, pointing out that there are many great opportunities to move this relationship to higher levels.
“Our slogan in this forum is ‘Partnerships for Future Generations’. This not only includes the historical relationship between the two countries, but also marks a transition phase and a major impact on generations in both countries,” added the minister.
He said that the forum will conclude with many investment opportunities and initiatives that will contribute to strengthening partnerships between the Kingdom and the US.
The forum’s sessions were followed by a panel discussion on prospects for partnership between the two countries, moderated by Bloomberg TV presenter Francine Lacois, reported SPA.
Lubna Olayan, CEO and deputy chairman of Olayan Financing Company, highlighted historic relations binding the Kingdom and the US.
She underlined the successful partnership between the two countries that is based on trust, respect and open dialogue, stressing that the forum aims to enhance relations between them.
Olayan added that the forum will discuss the National Transformation Program 2020 and priorities of the Kingdom’s Vision 2030.
A discussion panel, entitled “Partnership in 21st Century,” then followed with the participation of Dr. Majed Al-Qasabi, minister of commerce and investment, Al-Falih, minister of energy, industry and mineral resources, Mohammed Al-Jadaan, minister of finance, and Yasser Al-Rumaian, general supervisor of the Public Investment Fund.
Al-Qasabi stressed that the Kingdom’s Vision 2030 represents a qualitative shift in the history of Saudi Arabia, adding: “We seek to facilitate all measures and revise relevant legislations regarding motivating environment for investment.”
He stressed that the great challenge facing the Kingdom’s Vision 2030 is human resources.
Al-Falih focused on energy and industries, pointing out that the Kingdom made important steps regarding generating power and oil and that Saudi Arabia has many natural resources.
For his part, Al-Jadaan said that the Kingdom’s Vision 2030 came in response to a number of challenges.
“The private sector is one of the important factors in the Kingdom’s Vision 2030 to contribute to the domestic product,” he added.
The minister stressed that the Kingdom seeks to remove obstacles facing the private sector, review conditions of granting loans, transfer technical expertise and provide technical support through several initiatives.
Another discussion panel, entitled “Youth in the Field of Commercial Works,” was held to discuss the importance of employment and development of the Saudi youth.
At conclusion of the Saudi-US CEO Forum, Al-Qasabi highlighted the historic relations between Washington and Riyadh and their importance in all fields.
“The United States has been on our side since the birth of the nation. To us, the US is a global standard setter. We look forward that the forum is to continue as institutional work between the two countries,” he said.