Positive Impact of Investment System: Susanne Lindman, Executive Director of the Saudi-American Business Council (SABC), praised the new foreign investment system for enhancing economic relations between Saudi Arabia and the U.S. by providing a more transparent and efficient investment environment.
SABC’s Role in Facilitation: Lindman highlighted the SABC's efforts in leveraging the new system to foster trade relations, noting that the council has organized over 60 business development missions and 500 events, successfully connecting thousands of companies and facilitating strategic partnerships.
Opportunities for Collaboration: The new system supports Saudi Arabia’s Vision 2030 by promoting investment in advanced technologies and industries such as AI, cybersecurity, and renewable energy, as well as in sports and tourism, where American expertise can drive mutual growth.
Washington, August 20, 2024 — Susanne Lindman, the Executive Director and Interim President and CEO of the Saudi-American Business Council (SABC), has commended the new foreign investment system for significantly strengthening economic ties between Saudi Arabia and the United States. In a detailed interview with the Saudi Press Agency (SPA), Lindman emphasized the transformative impact of the system, which has been designed to create a more transparent, efficient, and inviting investment environment for businesses from both countries.
Lindman highlighted that the new foreign investment system plays a crucial role in streamlining the investment process by addressing previous challenges and opening new avenues for cooperation between Saudi and American companies. This initiative, part of Saudi Arabia's broader National Investment Strategy, aims to enhance investment opportunities and set clear strategies to overcome barriers in the investment landscape. The system's implementation aligns with the Kingdom’s Vision 2030, which seeks to diversify the economy and attract global investment by improving the regulatory framework and promoting business-friendly practices.
The SABC, under Lindman’s leadership, is actively utilizing the foreign investment system to facilitate deeper trade relations and support business development efforts between the two nations. She noted that the council has successfully organized over 60 business development missions and conducted more than 500 seminars and networking events. These initiatives have played a pivotal role in linking tens of thousands of companies, offering them critical market insights and advisory services. By connecting businesses through these platforms, the SABC helps companies navigate the complexities of cross-border investments and find suitable partners.
Lindman also discussed Saudi Arabia’s commitment to advancing its technological and industrial sectors, specifically in fields such as artificial intelligence, cybersecurity, biotechnology, renewable energy, and petrochemical transformation. She stressed that these areas represent significant opportunities for collaboration, particularly as Saudi Arabia seeks to leverage American expertise to enhance its own technological and industrial capabilities. Additionally, she pointed out that sports and tourism are emerging as promising sectors for investment, where American companies' specialization can contribute to mutual growth and benefit.
The recent approval of the foreign investment system by the Saudi Cabinet marks a significant step in the Kingdom’s efforts to create a more transparent and accessible investment environment. Lindman praised this development, noting that it supports the SABC’s mission to facilitate business activities and improve economic relations between Saudi Arabia and the United States. The new system is expected to play a vital role in fostering stronger economic ties, encouraging bilateral investments, and contributing to the achievement of Saudi Arabia's Vision 2030 goals.