Vision 2030 offers limitless investments for US firms: Assistant Secretary of Commerce

Arun Venkataraman Assistant Secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service

Riyadh and Washington are committed to supporting bilateral economic and investment cooperation and pushing it to new levels, said Arun Venkataraman, Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service, Department of Commerce.

Vision 2030 offers great investment opportunities. It is currently implemented and becoming a reality, he added.

Many promising sectors in Saudi Arabia offer limitless opportunities to US firms in the Saudi market, such as the digital economy, clean energy, healthcare, entertainment and tourism, Al-Eqtisadiah daily reported.

Talks are ongoing with officials at the Saudi Ministry of Commerce to assess the progress made on the joint action plan for trade partnership between Saudi Arabia and the US. Trade relations between the two countries are on the right track after the pandemic.

Saudi Arabia is not only the largest Arab economy for the US, but one of the highest-growth countries worldwide, Venkataraman added. The Kingdom diversifies its economy away from oil. It opens new sectors, in which US companies can be a partner as part of the comprehensive development plan and reforms implemented by the Saudi government.

Trade exchange between the two countries should grow. The US is closely watching the highest growth rates made by Saudi Arabia.

Venkataraman revealed that 60 US firms will visit Riyadh in March to push trade cooperation in the field of clean energy technology and its applications in production.