Delivering Change: Innovation and Localization Mission to Saudi Arabia
Riyadh, Oct 26-31, 2019
Saudi Arabia, a G20 member and the world’s 18th largest economy, is undergoing a massive industrial transformation under the Vision 2030, a social, cultural, and economic transformation plan that reflects the strengths, capabilities, and ambitions of the Kingdom. The country is located within five hours, by air transport, from half of the world’s population and on the Asia-to-Europe trade route. It has favorable fundamentals, an increasingly attractive business environment, and access to many greenfield markets and innovative projects.
Foreign investor licenses grew by 70%, from Q1, 2018 to Q1, 2019. Top sectors include manufacturing, construction, ICT, and mining. An estimated 70% were 100% owned by foreign entities. The U.S. is the second investment source after India.
Untapped Potential in Logistics, Energy, Renewable, Mining, Defense and Industry 4.0
Saudi Arabia aims to become a global logistics hub with a focus on Industry 4.0 technologies as well as the largest digital market in the Middle East and North Africa by 2030. The 4th Industrial Revolution is expected to have a $4 billion economic impact, with smart cities projects contributing over $2 billion annually to the GDP by 2030.
The Kingdom is innovating the manufacturing sector by harvesting its natural resources to become a leading industrial powerhouse in solar and wind energy. Oil and gas industries offer the potential to increase export value up to 122%. Undiscovered mineral resources of $1.3 trillion offer prospects across more than 30 value chains. Logistics zones are planned close to major ports. In a rapidly changing economic environment, strategic programs that support research, development, innovation, entrepreneurship, foreign investment, and private sector growth will boost local manufacturing, raise exports, and create high-value jobs nationwide.
Senior executives from U.S. product and service firms, including fast-growth start-ups, in the target sectors below who are interested in establishing or expanding their presence in Saudi Arabia
- Industrial Development and Logistics Program (NIDLP). Consists of 42 initiatives in industry, mining, energy, logistics. Targets: auto, aerospace, cargo, chemicals, food, logistics, machinery, pharma, medical supplies, military, renewable energy, Industry 4.0
- In-Kingdom Total Value Add (IKTVA): localization initiative driven by Saudi Aramco. Targets: robotics, advanced manufacturing (3D printing, nanotech, EV, sensors, IoT devices), AI, data analytics, petrochemicals, electrical equipment, energy (production, use, storage), metal processing, mobility, security, smart cities, and water treatment.
- NUSANED: localization initiative driven by SABIC. Targets: polymer conversion, rubber conversion, catalysts, surfactants, oilfield chemicals, plastics additives, coatings.
Participants will learn about the Saudi environment for international partnerships, discussed at length at the Future Investment Initiative (FII), and network with relevant Saudi public and private sector stakeholders.
Hosted by the Public Investment Fund, the FII forum will take place in Riyadh. Themed “What is next for global business?”, the FII will include in-depth conversations about future global investment opportunities, analysis of industry trends, and networking with an influential community of top global leaders, investors, experts, and innovators. More information about the FII is available at http://futureinvestmentinitiative.com/home
The mission will include:
- Mission briefings
- Networking function
- Site visits relevant to each mission participant
- Participation at the FII, Oct 29-31, (by invitation)
- Meetings with stakeholders driving the NIDLP, IKTVA, NUSANED
- One-on-one meetings with reputable Saudi companies in your industry sector
- Support for U.S. companies interested in doing business, especially those interested in establishing a presence in the Saudi market;
- Assist U.S. companies already operating in Saudi Arabia to increase their market share;
- $1,500/one company representative ($1,200 for Council members)
- $500 for each additional company representatives
This mission fee includes:
- One-on-One Meetings
- Networking Events and Meals
- Site Visits
- Visa Facilitation (Consular fees NOT included)
Participants will be responsible for:
- Air Travel
Your application will be reviewed and a status update will be communicated to you promptly. We look forward to welcoming you on the mission and supporting your business objectives for the Saudi market.
Deadline to Submit Application: October 11, 2019
Questions: Ana Carmen Neboisa, Vice President: email@example.com
Should you be a U.S. company interested in attending the FII but do not require the Council’s value-added services, we will waive the mission fee and nominate to attend the FII under our delegation umbrella. Please contact Ana Carmen Nebiosa directly.