2005 News Story

Kingdom seeking foreign investment in energy and desalination

Minister of Commerce and Industry Dr. Hashim Yamani has confirmed that the Kingdom is actively seeking foreign investment, worth U.S.$623 billion, in vital projects that include petrochemicals, power generation and water desalination. A Saudi delegation will present the investment projects to American businessmen during its upcoming visit to the United States. The delegation will visit five U.S. states.


Another Saudi business delegation recently visited China and invited Chinese businessmen to invest in the projects. Saudi-Chinese trade exchanges have grown from $300 million to $10 billion in 2004.