According to USSABC
's Contract Awards Index (CAI) report, the total value of contracts covers megaprojects in various sectors, with oil and gas; water; and transportation projects making up 67% of the total value, accounting for $8.7bn (SAR32.6bn).
Contract Awards Index (CAI) reached 168.69 points at the end of the first quarter.
The roundtable is part of the USSABC
annual activities it hosts in Saudi Arabia and United States to clear up investment opportunities in the Kingdom of Saudi Arabia and promote partnership between Saudi and US companies.
"Historically, the Saudi defense sector has proven lucrative for foreign defense contractors given that the country is among the leading arms importers with growing domestic capabilities," Abdullah Jum'ah, co-chair of the USSABC
and former CEO of Saudi Aramco, told Arab News on Monday.
Strong endorsement came from the USSABC
president and CEO Edward Burton, who 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 Gulf region."
led a trade mission of 11 Minnesota com- panies to the cities of Riyadh and Jeddah in April 2009.
Saudi Aramco has been active in the USSABC
since the council's founding in 1993 to encourage cross-border trade and investment between the Kingdom and the United States.
As part of the Vision 2030 reform plan, Saudi Arabia has turned its attention to the SME sector "as a fundamental source of economic dynamism whose growth and progress would benefit the country as a whole," said Abdallah Jum'ah, USSABC
co-chairman and former CEO of Saudi Aramco.
The Saudi Green Building Forum (SGB Forum) is set to partner with the US-Saudi Arabian Business Council (USSABC
), a move aimed at opening new doors of business in Green Building products and services between US and the Kingdom.
Confirmed speakers for the event include Dr Tawfig Alrabiah, Saudi Minister of Commerce and Industry; Mohamed Al Mady, Saudi Arabian co-chairman of the USSABC
and vice chairman and CEO of Sabic; Peter Robertson, US co-chairman of the USSABC
and former vice chairman of Chevron Corporation, and Azzam Shalabi, president, National Industrial Clusters Development Programme.
Figures from the Washington DC-based US-Saudi Arabian Business Council (USSABC
) showed total bilateral trade at $35.2 billion, with the Kingdom holding a slight balance advantage from its $18.9 billion of exports.
Burton, a political scientist and lawyer by training and a one-time diplomat as commercial attache in the US Embassy in Riyadh, is now president and chief executive of the US-Saudi Arabian Business Council (USSABC
), based in Washington and which also has offices in Riyadh.