Saudi Forum to Attract Kuwaiti Investments

Invest in Saudi Arabia forum to be launched on Monday in Kuwait (Asharq Al-Awsat)
Invest in Saudi Arabia forum to be launched on Monday in Kuwait (Asharq Al-Awsat)
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Saudi Forum to Attract Kuwaiti Investments

Invest in Saudi Arabia forum to be launched on Monday in Kuwait (Asharq Al-Awsat)
Invest in Saudi Arabia forum to be launched on Monday in Kuwait (Asharq Al-Awsat)

''Invest in Saudi Arabia Forum'' will kick off Monday in Kuwait within the framework of Saudi Investment Minister Khaled al-Falih's visit to the country.

Several ministers and officials, public entities, significant companies, and representatives of the private sector from both countries are expected to attend the forum.

The forum aims to develop economic relations, promote mutual investments, explore the investment environment, and showcase the Kingdom's most prominent investment opportunities.

The forum's activities include panels and dialogue sessions to discuss the most promising investment sectors between the two countries, review the most prominent developments in the business environment in the Kingdom and significant projects related to Vision 2030, and bilateral meetings between government agencies and the private sector.

The visit of the Saudi Minister to Kuwait aims to deepen existing investment relations, build new and diversified qualitative partnerships, and strengthen economic, investment, and commercial ties with Kuwait.

The two countries have ambitious visions, Vision 2030 and Kuwait Vision 2035, which seek to play a role in the economic transformation and focus on attracting and diversifying foreign investments.

Vision 2030 provides opportunities for investors and companies to enter the Saudi market.

It contributes to searching for economic and commercial opportunities, attracting investments, and providing proper infrastructure, seeing that the Kingdom has massive investment capabilities harnessed to build a more diversified and sustainable economy.

In Kuwait, the stock market closed its trading on a rise in its general index of 18.18 points, reaching 7358 points, an increase of 0.25 percent, with a trading volume of 215.3 million shares, through the implementation of 9599 cash transactions, at a value of KD47.1 million.



Aramco CEO: We Will Invest $3.4 Billion to Expand Refinery in US

Amin Hassan Nasser, CEO of oil giant Aramco speaks during the Saudi-US investment forum in Riyadh on May 13, 2025. (Photo by Fayez NURELDINE / AFP)
Amin Hassan Nasser, CEO of oil giant Aramco speaks during the Saudi-US investment forum in Riyadh on May 13, 2025. (Photo by Fayez NURELDINE / AFP)
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Aramco CEO: We Will Invest $3.4 Billion to Expand Refinery in US

Amin Hassan Nasser, CEO of oil giant Aramco speaks during the Saudi-US investment forum in Riyadh on May 13, 2025. (Photo by Fayez NURELDINE / AFP)
Amin Hassan Nasser, CEO of oil giant Aramco speaks during the Saudi-US investment forum in Riyadh on May 13, 2025. (Photo by Fayez NURELDINE / AFP)

Saudi Aramco CEO Amin Nasser said the company will invest $3.4 billion to expand its refinery in the US, a move that reflects Aramco’s commitment to strengthening its presence in global markets, particularly in the integrated energy sector.

During his participation in the Saudi-US Investment Forum, Nasser said Tuesday that Aramco will sign an agreement with the US company Sempra to supply 6.2 million tons of liquefied natural gas annually, as part of the company’s plans to expand in this vital sector.

Aramco is pursuing 7.5 million tons a year of LNG offtake by 2030.

“The US is really a good place to put our investment,” he added.

Nasser explained that Aramco also invests in technology with global companies such as Nvidia, Google, IBM and Qualcomm.

Meanwhile, ACWA Power Chairman of the Board of Directors Mohammad Abunayyan said the company has succeeded in reducing the cost of electricity production from solar energy by 90%, and the cost of wind energy by more than 60%.

He pledged that the company will achieve a similar cost production in energy storage technologies.

“We have made renewable energy sources the backbone of the electricity grid, which is a globally unprecedented achievement,” Abunayyan said.

“Renewable energy has become a permanent source, thanks to the reliance on battery and hydrogen technologies,” he told a panel discussion at the Saudi-US Investment Forum.

Abunayyan said he is optimistic Saudi Arabia will become a digital hub and a global hub for data centers.

“There is no country in the world more capable than the Kingdom of Saudi Arabia to provide energy for data centers,” he said, stressing that Saudi Arabia is one of the few countries able to achieve net-zero emissions while maintaining the stability of the core energy grid.