RCY briefs US firms on investments

JEDDAH: The Royal Commission for Yanbu (RCY), in cooperation with the US-Saudi Arabian Business Council (USSABC), recently organized a symposium on investment opportunities in Yanbu Industrial City (YIC) in Columbus, Ohio, US, in the presence of more than 40 American executives.
The symposium discussed key investments in the areas of petrochemicals, plastics, rubber, utilities, and industrial components.
During the discussions, Zaidan bin Mohamed Omar Yusuf, director general, strategic planning and investment development at RCY, spoke with top executives in US industries about the infrastructure support, financial incentives, and availability of low-cost feedstock, which made Yanbu one of key industrial cities in the Kingdom and the Middle East.
He said Saudi Arabia’s industrial cities have become the cornerstone of the Kingdom’s drive toward diversified industrialization and economic development.
The symposium comes within a series of programs organized jointly by the USSABC and the Royal Commission. The first symposium was held in Houston, Texas, while the second one in Los Angeles, California, in March 2015.