(WASHINGTON, DC) – Saudi Ambassador to the United States Abdullah Al-Saud said today that the U.S. business community is destined to play a major role in the future success of the Saudi economy. He made the remarks in a keynote address delivered at the U.S.-Saudi Arabian Business Council conference in Los Angeles titled, “Localization, Innovation, and Partnership Opportunities for Industrial Development in Saudi Arabia.”

In his speech, Ambassador Al-Saud discussed the many ways that the transformation of Saudi society is driving changes in the Saudi economy and business sector. “Americans and American business will play an important role in Saudi Arabia’s progress towards Vision 2030,” said Ambassador Al-Saud. “We have a long and trusting relationship with the United States, perhaps more so than with any other country.”

Ambassador Al-Saud said that the Saudi government is instituting major reform initiatives to ensure the Kingdom develops an economy that is both diversified and sustainable as a part of Vision 2030. He detailed the numerous changes underway in Saudi Arabia, including the modernization of its cities and infrastructure, the development of the private sector, the larger role of women and young people, and the welcoming of foreign investment.

Other Saudi officials participating in the event included Minister of Energy, Industry and Mineral Resources Khalid A. Al-Falih and Acting Governor of the Saudi Arabian General Investment Authority Prince Saud bin Khalid Al-Faisal.