Saudi Arabia Plans to Unify Strategy of Saudi-Foreign Business Councils

Deserted streets in the coastal city of Jeddah, Saudi Arabia, during the coronavirus pandemic. (AFP)
Deserted streets in the coastal city of Jeddah, Saudi Arabia, during the coronavirus pandemic. (AFP)
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Saudi Arabia Plans to Unify Strategy of Saudi-Foreign Business Councils

Deserted streets in the coastal city of Jeddah, Saudi Arabia, during the coronavirus pandemic. (AFP)
Deserted streets in the coastal city of Jeddah, Saudi Arabia, during the coronavirus pandemic. (AFP)

Business leaders have welcomed Saudi efforts to implement fundamental changes to the regulations of joint business councils with the aim of boosting their role in the future.

The aspired changes seek to enable the councils to overcome the repercussions of the coronavirus pandemic and strengthen their capacity to hold successful commercial partnerships and achieve the goals of Vision 2030.

In remarks to Asharq Al-Awsat, Dr. Kamel Al-Munajjed, Chairman of the Saudi Indian Business Council, said: “The General Authority for Foreign Trade is working to develop the regulations of Saudi foreign business councils in order to keep abreast of developments after the coronavirus pandemic and to accelerate successful commercial partnerships to increase the private sector’s contribution to foreign trade.”

According to Al-Munajjed, one of the most important problems that the joint business councils faced over the past years was the lack of a unified strategy and the absence of unified standards for measuring performance.

He stressed that the development of regulations to overcome the aforementioned obstacles would give a great impetus to the work of the joint councils in contributing to the development of foreign trade and achieving many goals in Vision 2030.

For his part, Mohammed Al-Hammadi - a member of the Riyadh Chamber of Commerce and Industry, and former head of a joint Saudi business council - underlined the importance of the planned move by the Ministry of Commerce and the General Authority for Foreign Trade regarding developing a work regulation for Saudi foreign business councils to keep pace with the post-pandemic period.

In remarks to Asharq Al-Awsat, Al-Hammadi expected that the new regulations would greatly contribute to the development of Saudi foreign relations on the economic, commercial and investment levels.



US and Saudi Firms Leverage Trump’s Visit for Strategic Deals

File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)
File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)
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US and Saudi Firms Leverage Trump’s Visit for Strategic Deals

File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)
File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)

In a high-stakes display of economic ambition, US and Saudi corporate leaders are seizing the opportunity presented by former President Donald Trump’s visit to Saudi Arabia on Tuesday to announce major deals and partnerships.

The visit coincides with the Saudi-US Investment Forum, drawing top American officials and executives, and highlighting Riyadh’s growing prominence on the global investment and trade stage.

Executives from both nations have confirmed the unveiling of a wide array of strategic collaborations in critical sectors including defense, aerospace, energy, artificial intelligence, and technology. The forum is expected to serve as a launchpad for initiatives that signal a new phase of intensified cooperation between the two countries.

The Saudi-US Investment Forum, convening in Riyadh, is addressing a broad agenda spanning energy and sustainability, finance, AI, manufacturing, aerospace, healthcare, and venture capital. Five senior US government officials and ten prominent American CEOs are participating, among a crowd of more than 2,000 influential attendees.

Among the notable American officials attending are US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and White House Advisor on AI and digital currencies David Sacks. Business leaders include Elon Musk of SpaceX and Tesla, Mark Zuckerberg of Meta, Larry Fink of BlackRock, Jane Fraser of Citigroup, Cristiano Amon of Qualcomm, Arvind Krishna of IBM, Stephen Schwarzman of Blackstone, Sam Altman of OpenAI, Kelley Otteberg of Boeing, Alex Karp of Palantir, and Ruth Porat of Google and Alphabet.

Neil Bush, Chairman of Sky Tower Global and a key figure in the green economy technology sector, emphasized the significance of Trump’s visit. He described it as a catalyst for real and impactful economic outcomes, referencing the Crown Prince’s commitment to investing $600 billion in the US.

Bush anticipates the forum will strengthen strategic ties and explore transformative opportunities in vital sectors. He stressed the forum’s role in connecting high-ranking officials, top business leaders, and global investors, all converging to exchange forward-looking ideas that promote technological and economic cooperation.

Former EPA Administrator and Trump cabinet member Edward Scott Pruitt said the visit will revitalize US-Saudi economic ties, especially in energy and technology, during a pivotal time of global energy transition. He pointed out that the forum offers fertile ground for strategic partnerships in AI, innovation, and next-generation energy. These collaborations, he said, will support the evolution of a resilient financial infrastructure and bolster industrial cooperation, setting a foundation for the future.

Abdullah bin Zaid Al-Meleihi, chairman of Saudi firm Al-Tamayuz, stated that Trump’s visit has triggered a surge of investor interest in launching new joint ventures. He emphasized the alignment of these partnerships with the Kingdom’s Vision 2030 initiative, which aims to diversify the economy beyond oil.

Al-Meleihi confirmed that the forum will introduce several new partnerships, particularly in defense, aerospace, and AI. His company plans to announce energy-related deals with US investors.

Al-Meleihi expects both Saudi and American business sectors to capitalize on Trump’s visit, which he described as opening unprecedented opportunities. He stressed that the visit marks a new chapter in economic cooperation, one that will deepen bilateral ties in advanced technologies and vital industries.

He concluded by highlighting the broader implications of this cooperation, particularly in localizing supply chains, developing data infrastructure, and building a high-tech, flexible industrial base.