In the presence of the Minister of Health Dr. Tawfiq Al-Rabiah and Minister of Commerce and Investment Dr. Majed Al-Qasabia, a conference will be held this week in the city of Boston, USA, on "New Horizons and Opportunities in the Saudi Healthcare Sector", to be organized by U.S.-Saudi Arabian Business Council (USSABC) in collaboration with the Ministry of Health (MOH) and Ministry of Commerce and Industry (MCI) and participation of General Electric (GE).
The conference is reckoned as a platform for top business and chief executive officers (CEOs) in both countries, to review specific business and investment opportunities and communicate with potential business partners. The conference will acquaint healthcare manufacturers and service providers in the US with opportunities in the Kingdom for sales, technical tie-ups, joint ventures and investments in Saudi Arabia's expanding healthcare market.
The Kingdom aims to establish partnerships with foreign companies to increase competitiveness and productivity in the healthcare sector. Future investment priorities include medical devices, pharmaceutical manufacturing, medical information technology, hospital management, and others.
The program will include panel discussions with U.S. and Saudi company executives who are already successfully engaged in the Saudi market alongside Saudi experts from a wide variety of fields, and will present ample networking opportunities.
On this occasion, Dr. Al-Rabiah said, "The Kingdom Vision 2030 has given us a driving force to move forward with solid steps regarding the reforms necessary to raise the level of health care in the Kingdom. Key to these reforms is public and private sector partnerships and global best practices. We are reaching out to foreign investors in this vital sector, and want to spearhead this initiative by coming into contact with as many key players as possible from the United States."
For his part, Dr. Al-Qasabi said, "As a part of the Kingdom Vision 2030, the Kingdom is seeking to shape and encourage partnerships with firms to raise the competitiveness and productivity across the healthcare sector. The Conference will bring together the American and Saudi public and private sectors to explore Saudi Arabia's rapidly re-structuring healthcare market. These changes are creating lucrative and exciting opportunities for local and foreign investors alike."
It is worth mentioning that the USSABC was established in December 1933 to improve mutual relations and understanding between the private sector in the United States and Kingdom of Saudi Arabia and boost and facilitate trade and investment between the two countries. The USSABC has established a membership base of around 350 leading American and Saudi companies which act as a main source of information and to help companies that want to pursue specific business activities in Saudi Arabia. The council organizes conferences and seminars in both countries to promote dialogue between the private and public sectors, in addition to trade and investment missions that provide networking opportunities for U.S. and Saudi companies.