Weather Forecast for Thursday    Saudi leadership seeks peace and progress in Yemen, Prince Khalid tells President Hadi    UN experts decry Iran's reported plan to execute Iranian-Swedish academic    12 years on, victims of Mumbai terrorist attacks await justice India accuses Pakistan of shielding main culprits    CMA warns market manipulators of prosecution    1-year jail and SR50,000 in fine for assaulting women    Foreigners must transfer sponsorship within 2 months after separation from Saudi spouses    Abu Dhabi crown prince meets with Indian foreign minister    Yemeni parties condemn Houthi attacks against civilian targets in Saudi Arabia    Details of new 2021 Dakar Rally route in Saudi Arabia unveiled    Saudi Arabia collects six Arab governmental excellence prizes    Argentina Soccer Legend Maradona Dies of Heart Attack    China FM in Japan to Discuss Virus    Joint Incidents Assessment Team Refutes Allegations against Coalition Forces    CITC to Host a Webinar on Radio Spectrum Innovation in Collaboration with the ITU    AstraZeneca COVID-19 Vaccine 90% Effective only Among Age Group Below 55, US Advisor reports    SABIC introduces new Lexan anti-fog film for clear safety visors, lenses and goggles    DEWA selects bidder for 120 MIGD Hassyan Sea Water Reverse Osmosis IWP Project    HRC President receives Ambassador of New Zealand    Saudi Ladies International confirmed for 2021    European Tour's commitment to golf in Dubai will support tourism recovery    On Behalf of the Custodian of the Two Holy Mosques, Governor of Riyadh to Attend Final of the King's Cup    Russian President Praises Joint Cooperation with the Kingdom of Saudi Arabia to Ensure the Stability of the Global Energy Market    Russia reports record 507 coronavirus deaths    King approves Saudi Central Bank law and renames SAMA    K Chinar, Pak Zalmi open account in Ace Travel Saudi Cup    Bahraini, Indian foreign ministers meet, seek to boost bilateral ties    OPEC Secretary General: The Attack on Petroleum Products Distribution Terminal North of Jeddah is Cowardly Act    Study: Small link between blood type O and lower risk for severe COVID-19 illness    Saudi Arabia Achieves Highest Levels of Commitment to Implementing G20's Outcomes on Cybersecurity    Azha Workshop unveils bracelet to showcase AlUla's rich history    RCU announces the winners of #CaptureAlUla photo competition    Chelsea 7th club to top PL, with win, at Newcastle,    Coman rescues 1-1 draw for Bayern against Werder    British Council to host event for young Saudi filmmakers    Saudi Arabia Launches Golf Sustainability Strategy, Al-Rumayyan Opens Aramco Saudi Ladies International    MCIT Launches Initiative to Raise Awareness on Cyberbullying    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Saudi Medical Team Restore Young Man's Lost Vision, One Year later    KSrelief Organizes Awareness Campaign on Breast Cancer in Aden Governorate, Yemen    Ithra Signs Agreement with Supreme Council of Antiquities of Egypt    Court facilitates young woman's marriage after stripping father's guardianship    Bahrain's top Islamic body condemns attempts to insult Muslim symbols    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    S. P. Bala, legendary Indian singer, dead at 74    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

US-Saudi partnership offers ‘mine' of opportunities
Published in The Saudi Gazette on 27 - 09 - 2016

THE strong and enduring partnership between the United States and Saudi Arabia is the foundation of our close cooperation in matters of security, commerce, education, health, agriculture, science and technology, and many other fields. The United States values our close bilateral relationship and supports Saudi Arabia's new dynamic efforts to secure a more peaceful and prosperous future for its people and the entire region.
The United States applauds Saudi Arabia's leaders for launching a historic and ambitious socioeconomic transformation plan under Vision 2030 and the National Transformation Program (NTP), and commends the effort to diversify the Kingdom's economy and reduce its dependence on oil. The diversification of Saudi Arabia's economy will also create millions of jobs for its people, particularly the women and youth of the Kingdom. As a key strategic and economic partner of Saudi Arabia, the United States is committed to assisting the Kingdom in achieving these objectives. President Obama reaffirmed that commitment in his meeting at the White House with Saudi Deputy Crown Prince Muhammad Bin Salman last June. As part of this commitment, the US government is developing an economic engagement plan to support the Saudi government in translating its Vision 2030 and NTP aspirations into reality. My country has a great deal of proven experience in actualizing transformative socioeconomic development plans, including what works and what does not work. We are eager to share our "best practices" and "lessons learned" — some of which we learned the hard way. We are also looking very carefully to ensure that some elements of Vision 2030 and the NTP do not have the unintended consequences of discouraging foreign firms from investing in the Kingdom.
One envisioned element of the US-Saudi economic engagement plan is to assist the Kingdom to diversify its economy by developing its mining sector, hailed as the "third pillar" of the Saudi economy after oil and petrochemicals. Developing the mining sector as a strong pillar of economic growth and job creation is front and center in Saudi Arabia's national development plan. The Kingdom has discovered more than 40 commercially important minerals across the country, including significant deposits of phosphate, bauxite, tantalum, gold, silver, zinc, copper, magnesite, and kaolin. Opportunities exist for companies specialized in all aspects of the mining industry, including in geological, geophysical and geochemical work. The potential for collaboration is high in mineral extraction and processing; environmental, health and safety standards; infrastructure development; mining equipment acquisition; and education and training.
In recognition of the importance of the mining sector to Vision 2030 and the NTP and the opportunities it creates for deepening our economic ties, my team has arranged to bring a delegation of Saudi public and private mining sector leaders to participate in the 2016 "MinExpo" in Las Vegas, Nevada, from Sept. 26-28, 2016. MinExpo, which takes place every four years, is the premier forum for bringing US and foreign mining companies together to explore mutually beneficial business opportunities. The time of this important expo is fortuitous as it follows on the heels of the launch of the NTP. I am confident that the expo will provide a unique opportunity not only for building on existing business-to-business relations in the mining sector, but also for creating strategic partnerships to help Saudi Arabia achieve its Vision 2030 and NTP objectives. I believe such strategic partnerships throughout the mining spectrum will pay long-term dividends through the facilitation of transfer of knowledge, skills, and technology. I am quite excited by the opportunities MinExpo 2016 offers for our mutual benefit and look forward to leading a delegation of Saudi leaders and executives there at the end of this month.
We expect to lead similar delegations from others sectors of the Saudi economy to the United States in the coming year, including those engaged in power generation and development of renewable energy. We also plan to organize and bring to Saudi Arabia high-level safety and security and power tech trade missions in November 2016 and March 2017, respectively.
I am confident that the enduring and multifaceted US-Saudi relationship will deepen and strengthen as we work together to achieve our shared goals in, among other areas, regional security and trade and investment.
Joseph W. Westphal is the US Ambassador to the Kingdom of Saudi Arabia.

Clic here to read the story from its source.