U.S. investment in Saudi Arabia worth 10 bln USD

2017-02-08 16:51

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The United States investment in Saudi Arabia is worth 10 billion U.S. dollars through 550 companies operating various businesses in the country, Al Riyadh local newspaper reported on Wednesday.

Commercial Counselor in U.S. embassy, Douglas Wallace, told the newspaper that his country is dedicated to contribute in boosting Saudi economy because of their historical ties.

To achieve such goal, 20 U.S. companies are in a visit to the Saudi Eastern Province to explore further opportunities in the country. Douglas said that such U.S. business delegations have been visiting Saudi Arabia for the last two years, highlighting that the Saudi investment in America is worth around 13 billion dollars.

Mike Hankey, U.S. Consul General in Dhahran, highlighted the importance of commercial ties between the two countries, asserting the support and interests of the U.S. for the success of the Saudi economic vision 2030.

He said that the U.S. support is also through human resources development as there are 130,000 Saudis studying in America, including 100,000 sponsored by the Saudi government.

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