US Investment In Saudi Arabia Worth US$10 Billion

The US investment in Saudi Arabia is worth US$10 billion through 550 companies operating various businesses in the country, Al Riyadh local newspaper reported on Wednesday, according to China's Xinhua news agency.

Commercial Counsellor in US embassy, Douglas Wallace, told the newspaper that his country is dedicated to contribute in boosting Saudi economy because of their historical ties.

To achieve such goal, 20 US companies are visiting the Saudi Eastern Province to explore further opportunities in the



country.

Douglas said that such US business delegations have been visiting Saudi Arabia for the last two years, highlighting that the Saudi investment in America is worth around US$13 billion.

Mike Hankey, US Consul General in Dhahran, highlighted the importance of commercial ties between the two countries, asserting the support and interests of the US for the success of the Saudi economic vision 2030.

He said that the US support is also through human resources development as there are 130,000 Saudis studying in America,