The billlions of dollars worth of agreements Saudi Arabia plans to sign with US companies today will be primarily focused within the kingdom, the Saudi oil minister said.

“The agreements that have been prepared to be signed and be announced today exceed $200 billion,” Khalid Al Falih said in Riyadh at the first Saudi-US CEO Forum that coincides with the US president Donald Trump’s visit to the kingdom.

“A big percentage of these is in the kingdom [and] include the localisation of strategic industries that have a high value added, and technologies, and job opportunities,” said Mr Al Falih.

The planned agreements come as part of the kingdom’s 2030 Vision to diversify the economy away from oil by attracting investments and creating local jobs and industries.

The agreements cover various areas including defence, Information Technology and energy, such as power generation, renewables, refining, petrochemicals and new mining industries such as silicons, he added.

“Vision 2030 is the umbrella for all initiatives in the Saudi kingdom,” he said.

The billlions of dollars worth of agreements Saudi Arabia plans to sign with US companies today will be primarily focused within the kingdom, the Saudi oil minister said.

“The agreements that have been prepared to be signed and be announced today exceed $200 billion,” Khalid Al Falih said in Riyadh at the first Saudi-US CEO Forum that coincides with the US president Donald Trump’s visit to the kingdom.

“A big percentage of these is in the kingdom [and] include the localisation of strategic industries that have a high value added, and technologies, and job opportunities,” said Mr Al Falih.

The planned agreements come as part of the kingdom’s 2030 Vision to diversify the economy away from oil by attracting investments and creating local jobs and industries.

The agreements cover various areas including defence, Information Technology and energy, such as power generation, renewables, refining, petrochemicals and new mining industries such as silicons, he added.

“Vision 2030 is the umbrella for all initiatives in the Saudi kingdom,” he said. More

By   The National

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