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Newsweek Names King Abdullah among
Top 10 Global Leaders

King Abdullah was named as one of the world’s most respected leaders by Newsweek. Photo courtesy of Saudi Press Agency.

Newsweek named Custodian of the Two Holy Mosques King Abdullah among the Top 10 most respected global leaders, commending him for his efforts to reform Saudi society. Since taking the throne in 2005, King Abdullah has worked to modernize schools and has invested heavily in science technology and education. In an effort to diversify the Kingdom’s economy, and develop the country’s infrastructure, King Abdullah has spearheaded a $400 billion investment program. His efforts have placed him on the prestigious Newsweek list along with global leaders such as British Prime Minister David Cameron, French President Nicolas Sarkozy, and Chinese Premier Wen Jiabao. More..

Saudi Arabia Ranks Among Top 10
Most Attractive Countries in the World for FDI

According to the World Investment Report 2010 that was recently released by the United Nations Conference on Trade and Development (UNCTAD), Saudi Arabia was the eighth largest recipient of foreign direct investment (FDI) in the world in 2009, moving up six spots from its rank of 14th in 2008. The report states that $35.5 billion (SR133 billion) worth of FDI flowed into the Kingdom, bringing the country’s FDI stock to $147 billion (SR551 billion). While Saudi Arabia’s annual FDI declined nearly 6 percent from 2008 as a result of the global downturn, both UNCTAD and Saudi economists are optimistic that 2010 will witness growth that will continue into the future. More...

USSABC and Virginia Invite Companies to
Join Trade Mission to Saudi Arabia

December 4 - 7, 2010
Riyadh and Dammam, Saudi Arabia

The U.S.-Saudi Arabian Business Council (USSABC), in collaboration with the Virginia Economic Development Partnership (VEDP), is organizing a trade mission December 4-7, 2010 to the cities of Riyadh and Dammam in Saudi Arabia. The mission aims to help Virginia companies enter the Saudi market, as well as strengthen the market share of Virginia businesses already operating inside the Kingdom.

With Saudi Arabia as the 15^th largest export destination for Virginia goods and services, participants will benefit from a full agenda that will include one-on-one meetings with local companies, as well as group business meetings with the Riyadh Chamber of Commerce and Industry and the Eastern Province Chamber of Commerce and Industry in Dammam.

All participating companies will receive a six-month complimentary Silver Membership to the Business Council. As a member of USSABC, companies will gain access to the numerous programs and services designed to accelerate companies’ business in the Kingdom. More...

Chicago Forum:
Minister Alireza and Secretary Locke Call for
Strengthened U.S.-Saudi Ties

As both the U.S. and Saudi Arabia look to expand their economies and increase foreign trade and investment, H.E. Abdullah Alireza, Saudi Minister of Commerce and Industry, and the Honorable Gary Locke, U.S. Secretary of Commerce, convened at the U.S.-Saudi Business Opportunities Forum and discussed the similarities between the two countries and the benefit of advancing the long-standing relationship. The Forum, held in Chicago on April 27-29, 2010, featured the two key leaders as they addressed an audience of more than 1,100 government and private sector representatives from the U.S. and Saudi Arabia.

April 28, 2010 Luncheon — Expanding U.S.-Saudi Trade in a Competitive World from US-Saudi Forum on Vimeo.

Dr. Afnan Al-Shuaiby, Board Member for the Committee for International Trade and Secretary General and Chief Execitive Officer for the Arab British Chamber of Commerce, introduced Minister Alireza. James Albaugh, President and Chief Executive Officer for Commercial Airplanes at The Boeing Company, introduced Secretary Locke.

For more information on this panel, click here.

For a full recap of the Forum, including pictures and videos, click here.

Jeddah Mayor Appointed Minister of Labor following death of Ghazi Al-Gosaibi

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