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Saudi Arabia: Arar Prepares to Explore $6 Bn Investment Opportunities

Northern Borders Investment Forum hall (Asharq Al-Awsat)
Northern Borders Investment Forum hall (Asharq Al-Awsat)
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Saudi Arabia: Arar Prepares to Explore $6 Bn Investment Opportunities

Northern Borders Investment Forum hall (Asharq Al-Awsat)
Northern Borders Investment Forum hall (Asharq Al-Awsat)

The Northern Borders Investment Forum in Arar, northern Saudi Arabia, is expected to reveal investment opportunities worth approximately $6 billion in various sectors.

On Saturday, the Governor of the Northern Borders Region, Prince Faisal bin Khalid bin Sultan, will inaugurate the event with several national and international officials and experts.

The event is organized by the region directorate and the Federation of Saudi Chambers. It will host several ministers, officials, experts, advisors, company presidents, executive directors, and business people.

It is scheduled to present more than 157 investment opportunities in the northern border region, with an estimated value of $5.8 billion, in various targeted sectors, such as transportation, logistics services, mining, education, health, real estate development, industry, tourism, hospitality, and scientific research.

The forum will include seven sessions with the participation of Minister of Commerce Majid al-Qasabi, Minister of Investment Khalid al-Falih, Minister of Environment, Water and Agriculture, Abdulrahman al-Fadhli, Deputy Minister of Education Mohammad al-Sudairi, Deputy Minister of Industry and Mineral Resources Khaled al- Mudaifer.

The sessions will include the Maaden CEO Robert Wilt, Deputy Governor of the Saudi Arabian Monetary Agency for Research and International Affairs Fahad al-Shathri, and several international officials.

Through its sessions, the forum reviews investment trends, horizons, opportunities in the northern border region, ways to stimulate investment growth and business sustainability, support programs, and financing solutions for investors.

It also addresses the efforts of Saudi foreign business councils in stimulating trade, investment, and government initiatives to empower investors in the region.

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US Trade Delegation in Iraq to Boost Economic Ties

Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)
Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)
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US Trade Delegation in Iraq to Boost Economic Ties

Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)
Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)

A US trade delegation representing 60 companies was visiting Iraq to sign economic cooperation agreements with the private sector, Washington's embassy in Baghdad said Tuesday.

The three-day visit, which began on Monday, comes amid fears of an international recession after US President Donald Trump imposed sweeping tariffs on numerous countries, which included 39 percent duties on Iraqi imports.

The US delegation consists of 101 members from 60 companies in the energy, technology and health sectors, who are set to meet with senior Iraqi officials and sign agreements, said an embassy statement to AFP.

It is the largest US trade mission to Iraq in the more than 100-year history of the United States Chamber of Commerce, the embassy added.

In a post on X, the US mission said that a "pivotal memorandum of understanding to strengthen ties between the US and Iraqi private sectors" was signed on Monday between the US Chamber of Commerce and the Federation of Iraqi Chambers of Commerce.

"This partnership will foster long-term economic collaboration," it said.

According to the office of the US trade representative in Iraq, total goods trade with the oil-rich country reached $9.1 billion in 2024, with US exports amounting to $1.7 billion.

US goods imports from Iraq totaled $7.4 billion.

During the visit, Iraq is expected to sign a "landmark agreement" with General Electric to develop a high-efficiency power plant, according to Farhad Alaaldin, foreign policy adviser to the Iraqi Prime Minister Mohammed Shia al-Sudani.

Last year, during Sudani's visit to Washington, Iraq and the United States signed several memoranda of understanding in the energy sector, including one with General Electric to ensure the maintenance of the Iraqi electricity grid.

Iraq's power plants are currently highly dependent on gas imported from Iran, which provides about a third of its neighbor's energy needs.

But Tehran has often cut supplies, exacerbating regular power outages.

Baghdad has repeatedly stressed the need to diversify energy sources to reduce its dependence on Iran.

Iraq has been trying to move past decades of war and unrest, including a sectarian struggle after the US-led invasion 2003 toppled Saddam Hussein.