The U.S.-Saudi Business Council (USSBC) led a U.S. business development mission to Riyadh, May 21-23. The anchor of the mission was participation at the 5th Future Projects Forum (FPF) organized by the Saudi Contractors Authority in Riyadh, on May 22-23, 2023. This is the second U.S. business development mission led by the U.S.-Saudi Business Council to Saudi Arabia this year.
The U.S. delegation consisted of 11 business leaders from seven U.S. companies, namely ABNG International, HALO Maritime Defense Systems, Interactive Development Company, Middleby Corporation, Network Optix, Sargent & Lundy, and The Weitz Company. They specialize in construction management, general contracting, engineering, video technology platforms, kitchen equipment manufacturing, advanced maritime physical security systems, architecture services for niche projects, and consulting for the power, building, landscape, and road solutions sectors. Several of these companies are new or recent entrants to the Saudi market.
The agenda of the mission included a briefing with updates on doing business in Saudi Arabia and the Saudi legal environment, a discussion with U.S. members on the infrastructure of operating in Saudi Arabia, and a visit to the Riyadh Chamber of Commerce to learn about their services and meet one-on-one with their Saudi members.
In addition, the delegation participated in the 5th FPF and exhibited their products and services in the USSBC booth. They learned about opportunities across numerous sectors and held one-on-one meetings with public and private sector owners seeking partners for projects in various stages of development. A number of the mission participants have already had follow-up meetings.
The FPF provided a platform for contractors, public, and private sector owners to learn about upcoming projects presented by Saudi government and private entities. With over 40 project owners presenting at the FPF, including NEOM, ROSHN Company, Red Sea Global, Government Expenditure & Projects Efficiency Authority, Ministry of Sports, Ministry of Municipal and Rural Affairs and Housing, Asir Municipality, Aramco, and SABIC, the event offered extensive networking opportunities for attendees.
The mission aims to meet the Kingdom’s need for international expertise and investments to support its economic diversification plans. Saudi Arabia, the world’s 6th most competitive nation and the fastest-growing G20 economy in 2022, has project opportunities estimated at over $1 trillion spanning sectors such as infrastructure, real estate, tourism, transportation, healthcare, energy, and utilities.
The FPF mission follows the USSBC’s January 2023 mission to the Future Minerals Forum and the December 2022 mission to Riyadh and the Eastern Province. It further strengthens the Council’s commitment to fostering bilateral trade and strengthening economic ties between the United States and Saudi Arabia.
