2006 News Story

Prince Turki discusses Saudi economic reforms in Nashville

  Prince Turki Al-Faisal

Saudi Ambassador to the US Prince Turki Al-Faisal discussed economic reforms and business opportunities in the Kingdom in remarks to the Nashville Chambers of Commerce in Nashville, Tennessee today.

Prince Turki noted that Saudi Arabia has initiated numerous economic reforms over the last ten years, including enacting new laws and establishing nine regulatory bodies to streamline commerce and increase investment. In addition, Saudi Arabia is now a member of the World Trade Organization.

All of these reforms have resulted in an unprecedented economic boom. “Saudi Arabia is open for business,” Prince Turki said. He pointed out that there are investment opportunities worth over $650 billion over the next 15 years in a variety of fields, including natural gas, information technology, mining, tourism, healthcare, and education. 

Increased trade and commerce will also benefit Saudi Arabia’s relationships with other countries, particularly the United States, Prince Turki remarked. “In Saudi Arabia, we expect the partnerships we form, by working with others, will build bridges of understanding between our cultures for generations to come,” he said. “Our common business will underscore our common interests and common goals.”

Transcript of Prince Turki’s remarks