Council, TAQNIA Discuss New Opportunities in Saudi Research and Development
The U.S.-Saudi Arabian Business Council, in collaboration with the Council’s Chairman Circle member Mayer Brown, hosted a roundtable discussion on technology and innovation on May 7, 2019 in Washington, D.C. Over 35 business representatives joined our board member Charles Hallab and Eng. Majed Alonazi, Senior Executive for Special Projects for The Saudi Technology Development and Investment Company (TAQNIA). Eng. Majed delivered a detailed presentation on TAQNIA’s special projects related to energy & renewables, water technology, advanced materials, satellite and ICT, security and defense, and life science and health. TAQNIA, focused on research and development efforts in the Kingdom, is looking for U.S. partners to assist in development and transfer of technologies to grow Saudi Arabia’s non-oil sectors.
Council Board Member Charles Hallab stated, “As Vision 2030 continues its impressive march of progress, few organizations play such an important role as TAQNIA, where technology serves as the cornerstone of economic growth and diversity. We at Mayer Brown are proud to work alongside the U.S.-Saudi Arabian Business Council, the leading advocate for Saudi business in the U.S., to support the commendable mission of TAQNIA and to contribute in whatever way we can to the success of its exciting initiatives.”
Future events with TAQNIA will be hosted to educate the U.S. market on commercial opportunities in the Kingdom. The roundtable is part of the annual series of networking activities that the Business Council hosts both in the U.S. and Saudi Arabia to highlight investment opportunities in Saudi Arabia and facilitate partnerships between U.S. and Saudi companies. In order to further that objective, the Council plans to organize an Investment Mission in October of 2019.