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As many as 800 u.s. companies keen on investing in Saudi Arabia - ASHARQ AL-AWSAT English Archive
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Jeddah, June 4, SPA — Members of a recent Saudi trade mission to the United States report that more than 800 American companies are willing to invest in the Kingdom, especially in the communications sector, Saudi Gazette reported today.

&#34Many American companies had a wrong view about the market investments, but we changed that view as much as we could,&#34 said Omar Bahleiwah, director general of the Riyadh-based Council of the Saudi Chambers of Commerce and Industry (CSCCI).

The Committee for the Development of International Trade of the Council of Saudi Chambers of Commerce and Industry had visited five cities: New York, Atlanta, Houston, Chicago and San Francisco May 9-18 to present the new market opportunities emerging in Saudi Arabia through the year 2020 and amounting to an estimated $623 billion.

The delegation consisted of 45 members of the Council in addition to a number of well-known businessmen and members of the royal family, including women, said Abdurrahman Al-Kanhal, CSCCI deputy secretary general.

The goal of the trade mission, arranged in cooperation with the US Departments of Commerce and Energy and the National Association of Manufacturers, was to build upon the strong foundations of a six-decade-long strategic trading partnership to create further profits and prosperity for both nations. The United States is Saudi Arabia”s largest trading partner, providing 16 to 20 percent of

all imports.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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