LOS ANGELES — Executives of the Royal Commission at Yanbu (RCY), the master planner and managing authority for Saudi Arabia's Yanbu Industrial City, hosted an exclusive roundtable at The Beverly Hilton on Monday to share information, address concerns, and engage in dialogue with a select group of companies who operate in the target industries that Yanbu would like to support and grow in Saudi Arabia. These target industries include chemicals and plastics, packaging, desalination, energy, motor vehicles, fabricated metals, specialized glass and logistics. Royal Commission executives talked about infrastructure support, financial incentives, availability of feedstocks, and the market for key target sectors in Saudi Arabia. The Saudi delegation was led by Dr. Alaa Nassif, CEO of RCY. Dr. Nassif is joined by Adel Al-Mubarak, Commercial Attaché at the Saudi Embassy in Washington, D.C., as well as representatives from the Consulate General of Saudi Arabia in Los Angeles and the Office of the Mayor of Los Angeles. Yanbu Industrial City has been a magnet for foreign investment and industrial activity for the past 40 years in Saudi Arabia. Under the leadership of the RCY, the city is anticipated to become the world's largest refining hub by 2019 and one of Saudi Arabia's favored locations for new industrial development. Together with Jubail Industrial City, the Royal Commission accounts for 65% percent of industrial investment in the Gulf Region and enjoys a 20.2% average annual growth rate for FDI. The Los Angeles program is organized by the US-Saudi Arabian Business Council (USSABC). Commenting on the event, USSABC CEO and President Edward Burton said “Yanbu's competitive package of land, utility and infrastructure services coupled with its access to Middle Eastern, European, Asian and African markets make it a must for consideration for any international firm looking to expand its footprint in the region.” — SG
