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Saudi Aramco CEO: Business partnerships help drive job creation, business localization, and economic growth and diversification

Saudi Aramco President and CEO Amin H. Nasser participated today in the Saudi-U.S. CEO Forum, organized as part of the Saudi-U.S. Summit and the historic visit to Saudi Arabia by U.S. President Donald Trump.

Held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, the Saudi-U.S. CEO Forum provides a platform to strengthen business relations between the two countries by enhancing bi-lateral trade, enabling closer economic ties, exploring partnerships and investment opportunities while exchanging best practices and expanding cultural awareness and understanding.

Speaking following a forum roundtable organized under the theme “Partnership Enablers”, Nasser highlighted the important role business partnerships play in advancing the economic relationship between Saudi Arabia and the United States. He said trade and investments by American companies in the Kingdom’s strategic sectors facilitate the exchange of best practices, helping enable the environment necessary for successful job creation, business localization, and economic growth and diversification, which are key components of Saudi Vision 2030.

Nasser pointed to the several agreements and memoranda of understanding (MoUs) concluded on the sidelines of the summit between Saudi and U.S. companies as evidence of the purposeful collaboration between the two countries and of the long-standing strategic partnership and common interests they share.

Citing the historic partnership enjoyed by both nations since the1930s, Nasser said: “Undeniably, energy has always figured prominently in our economic partnership, with Saudi Aramco being a leading provider of the oil processed by major American refiners into the vital energy to power the world’s largest economy. Today, I believe the Kingdom has more to offer, where investments, trade and other business activities can become a larger and more vital part of our progressive partnership.”

He added: “With Saudi Vision 2030, we see numerous opportunities beyond the oil and gas sector as part of the government’s plan to strengthen the private sector’s contribution to GDP, increase female participation in the workforce, and in the health and education sectors.”

“The expansion of bilateral investments enhances training and development, drives job creation and facilitates the transfer of technology, laying the foundation for an economic ecosystem that will attract, establish, and promote domestic energy related industries that are globally competitive,” Nasser commented.

The Saudi-U.S. CEO Forum provides a platform to strengthen business relations between the two countries by enhancing bi-lateral trade, enabling closer economic ties, exploring partnerships and investment opportunities while exchanging best practices and expanding cultural awareness and understanding.

The Forum agenda is structured around economic and commercial topics of mutual interest, including advancing a more closely integrated Saudi-U.S. supply chain, boosting workforce productivity, improving the business environment, and supporting Saudi’s vision of developing a knowledge-based economy.

The theme of this year’s forum was “Partnership for Generations” and focused on the mutually beneficial ambition of job creation, global energy security and increased trade. The Forum, which coincides with U.S. President Donald Trump’s historic first visit abroad to the Kingdom, delivered results in line with Saudi Arabia’s Vision 2030.

The Forum was attended by key ministers, executives and high-level dignitaries from both Saudi Arabia and the U.S.  Among the notable U.S. companies in attendance were Halliburton, ExxonMobil, General Electric, Dow Chemical, Nabors, Rowan, Cisco, and Boeing.

 

*Source: saudiaramco.com