Saudi Arabia and the US sign 13 investment deals

Saudi Arabia and the US sign 13 investment deals

During Joe Biden’s latest visit to Saudi Arabia, the two countries signed a range of partnerships covering a variety of sectors, including aerospace, energy and tourism.

Khalid Al-Falih, Saudi Arabia’s Minister of Investment, as well as ministers from Biden’s official delegation attended the signing ceremony to facilitate the process and improve the economic ties between the two countries.

The renewable energy sector witnessed multiple investments, including an aircraft-manufacturing partnership between Saudi’s Ministry of Investment and aerospace company Boeing, as well as between Ajlan & Bros. Holding Group and US smart energy leader SolarEdge.

These investment deals also include 4 memorandums of understanding in the healthcare sector, as part of their efforts to give “recognition among global healthcare brands of the investment opportunities available in the Saudi life sciences sector,” according to the press statement.

These economic relationships between Saudi Arabia and the US are not brand new, since the Kingdom has a total of 743 US companies as of now.

Read more: An overview on the $7.7b Saudi Egyptian agreements

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