US & KSA Together we prevail: Riyadh Summit 2017

[Saif al-Arab]

How can Saudi that is practically almost bankrupt... and cannot afford to pay all the foreign workers... esp the poor ones... sign such large contracts?

Oil industry is at it death bed... how are the Saudis going to pay? With dates? Camel droppings?

Seems like a desperate move by the Saudis.

Nevertheless, I wish the Saudis the best no matter how the odds are stacked against them.

Maybe, JUST MAYBE, because Saudi Arabia is NOWHERE close to being bankrupt, lol. KSA's economy is already on the rise and KSA has one of the largest sovereign wealth funds on the planet and is one of the biggest creditor nations on the planet. KSA will not go bankrupt before 95% of all other countries in the world will. Not to mention the enormous amount that KSA earns daily on oil and gas alone let alone other resources (KSA has trillions of dollars worth of minerals and other natural resources).

The IMF already praised Saudi Arabia's economic reforms earlier this year. Basically a few months ago.

http://www.reuters.com/article/saudi-imf-idUSL5N1F63Q9

That bombastic propaganda article written 2-3 years ago was what it turned out to be. Nonsense.

As per all future economic prognosis, KSA will be in the top 14 of largest economies in the world by 2050.

http://stepfeed.com/egypt-saudi-ara...erful-economies-in-2050-business-insider-7215

A GDP of almost 5 trillion USD.

Let's not forget the very ambitious Saudi Vision 2030.

In short, haters will have to cry forever.

No with Arabian horses, the most famous and expensive horses/animals in the world.

Weak attempt at trolling. Very weak.

Sorry I had to go get something to eat.

I thought the way those servers were pouring coffee or tea in those cups they were holding and serving the people was great. The US contingent probably has never seen such a culturally oriented hospitality you can tell they were mesmerized and enjoyed it. Melania's belt matched all the gold pots and decorations all over the place lol.

That pic with the Kleicha cake, you can just read both their minds - Trump is saying "oh no, I can only have one or I'll eat the gold dish as well"....... and Melania's look or horror as she's thinking "OMG look at those delicious treats I'm gonna lose my figure by the time we leave here! Hopefully Donald finishes them all and eats the gold dish so I don't have any!"

Say what you want about Melania but she has a fine sense of fashion.

Saudi Arabia licenses 19 US companies with full ownership and compels them to implement the licensing conditions and regulations..

On the sidelines of US President Donald Trump's visit to Saudi Arabia, 19 US companies are granted licenses to invest in the Kingdom in full ownership in value added sectors of the national economy, including manufacturing, transportation, contracting, pharmaceutical, logistics, e-banking, virtual reality and consultancy. The company employs Saudis according to government standards.

These investments are expected to contribute to increasing foreign direct investment (FDI) from gross domestic product (GDP), diversifying sources of income and localization of technology, as well as contributing directly to local content development, stimulating private sector growth, Emiratisation and job creation.

These licenses come from major US companies, based on the strategic objectives of the vision of the Kingdom of 2030, which focused on the importance of attracting quality investments and attracting leading global companies in various vital sectors.

The CMA will issue investment licenses for Citibank to provide 100 per cent investment services, HBI for 100 per cent retail sales, and 100 per cent license for Eilay Lilly for retail in the pharmaceutical sector. GE was also licensed to sell 100% of its shares.

Industrial licenses for the transport and logistics sector will be granted 100 per cent ownership by Boeing, Crane International, Saudi Helicopter Support Company and 49 per cent investment licenses in the manufacturing sector of Ultra Darling Technology owns 75%, Rowan owns 50% and Plus Anand America owns 100% ownership.

In the field of information technology and virtual reality, ION will be granted licenses for virtual reality technology activities with 30% ownership, 100% ownership of the network services, and 100% ownership of FIA.

In the fields of consultancy, investment licenses will be granted to Huron Consulting Services Company (100%), SOS International (95%), Alixair Consulting (100%) and Cadill Contracting Construction is 100% ownership.

In accordance with the terms and conditions for licensing foreign companies to invest in the wholesale and retail trade sector with 100% ownership, it provided for the licensing of companies that have a presence in three markets at a minimum. The cash capital of the company established under the Companies Law shall not be less than SR 30 million, The company shall invest an amount of not less than 200 million riyals (including the company's cash capital). The investment shall be for the first five years starting from the date of obtaining the investment license from the General Authority for Investment.

The company is also committed to the recruitment of Saudis according to the Ministry of Labor and Social Development, and the development and implementation of a plan to assume leadership positions in the first five years and ensure their continuity with the company's commitment to train 30 per cent of Saudi employees annually, in addition to the company's commitment to achieve during the first five years one or More than the following: Manufacturing, with a minimum of 5 per cent of total sales to establish research and development programs in the Kingdom, logistics and distribution; Unit to provide those services, and provide after sales services.

The General Investment Authority (KIA) granted the first investment license in the Kingdom's commercial sector to foreign ownership wholly to Dow Chemical Company after the Cabinet approved the opening of the retail and wholesale sector to international companies with 100% ownership. Dow Chemical, founded in the Dow Jones Index, was founded 120 years ago as one of the world's largest companies in petrochemicals, manufacturing, innovation and research. Its annual revenue for the year 2015 is about $ 48 billion, with 51,000 employees. In the Kingdom, its presence is a great way to add high and qualitative returns to the petrochemical industry of the Kingdom.

http://www.aleqt.com/2017/05/19/article_1189851.html

More than 500 American companies invest in the Kingdom with 10
billion dollars

https://twitter.com/x/status/865632529398644736

A lot of promising economic deals were signed between the Saudi Arabian and US CEO forum.

https://twitter.com/SAUSCEOForum

 

[Gomig-21]

https://twitter.com/x/status/865976985411088384

https://twitter.com/x/status/865925441516974082

https://twitter.com/x/status/865951393819045888

https://twitter.com/x/status/865951904765009921

https://twitter.com/x/status/866016645906657280

Good stuff. That cyber security & communications equipment is very interesting.
NPR just said that Melania and Ivanca have decided to wear head scarfs now.

 

[Saif al-Arab]

Good stuff. That cyber security & communications equipment is very interesting.
NPR just said that Melania and Ivanca have decided to wear head scarfs now.

Yes, it is.

Headscarfs are actually not obligatory in KSA. What is obligatory is the abaya. In less conservative regions in KSA like Jeddah you can see local women without headscarfs. If you notice the interpreter (a Saudi Arabian-American women) she is not wearing a headscarf either. Anyway I don't honestly care about this stuff. So irrelevant IMO considering the scale of business and deals signed today. Incredibly irrelevant, lol.

 

[Clutch]

Maybe, JUST MAYBE, because Saudi Arabia is NOWHERE close to being bankrupt, lol. KSA's economy is already on the rise and KSA has one of the largest sovereign wealth funds on the planet and is one of the biggest creditor nations on the planet. KSA will not go bankrupt before 95% of all other countries in the world will. Not to mention the enormous amount that KSA earns daily on oil and gas alone let alone other resources (KSA has trillions of dollars worth of minerals and other natural resources).

The IMF already praised Saudi Arabia's economic reforms earlier this year. Basically a few months ago. That bombastic propaganda article written 2-3 years ago was what it turned out to be. Nonsense.





Say what you want about Melania but she has a fine sense of fashion.

Saudi Arabia licenses 19 US companies with full ownership and compels them to implement the licensing conditions and regulations..

On the sidelines of US President Donald Trump's visit to Saudi Arabia, 19 US companies are granted licenses to invest in the Kingdom in full ownership in value added sectors of the national economy, including manufacturing, transportation, contracting, pharmaceutical, logistics, e-banking, virtual reality and consultancy. The company employs Saudis according to government standards.

These investments are expected to contribute to increasing foreign direct investment (FDI) from gross domestic product (GDP), diversifying sources of income and localization of technology, as well as contributing directly to local content development, stimulating private sector growth, Emiratisation and job creation.

These licenses come from major US companies, based on the strategic objectives of the vision of the Kingdom of 2030, which focused on the importance of attracting quality investments and attracting leading global companies in various vital sectors.

The CMA will issue investment licenses for Citibank to provide 100 per cent investment services, HBI for 100 per cent retail sales, and 100 per cent license for Eilay Lilly for retail in the pharmaceutical sector. GE was also licensed to sell 100% of its shares.

Industrial licenses for the transport and logistics sector will be granted 100 per cent ownership by Boeing, Crane International, Saudi Helicopter Support Company and 49 per cent investment licenses in the manufacturing sector of Ultra Darling Technology owns 75%, Rowan owns 50% and Plus Anand America owns 100% ownership.

In the field of information technology and virtual reality, ION will be granted licenses for virtual reality technology activities with 30% ownership, 100% ownership of the network services, and 100% ownership of FIA.

In the fields of consultancy, investment licenses will be granted to Huron Consulting Services Company (100%), SOS International (95%), Alixair Consulting (100%) and Cadill Contracting Construction is 100% ownership.

In accordance with the terms and conditions for licensing foreign companies to invest in the wholesale and retail trade sector with 100% ownership, it provided for the licensing of companies that have a presence in three markets at a minimum. The cash capital of the company established under the Companies Law shall not be less than SR 30 million, The company shall invest an amount of not less than 200 million riyals (including the company's cash capital). The investment shall be for the first five years starting from the date of obtaining the investment license from the General Authority for Investment.

The company is also committed to the recruitment of Saudis according to the Ministry of Labor and Social Development, and the development and implementation of a plan to assume leadership positions in the first five years and ensure their continuity with the company's commitment to train 30 per cent of Saudi employees annually, in addition to the company's commitment to achieve during the first five years one or More than the following: Manufacturing, with a minimum of 5 per cent of total sales to establish research and development programs in the Kingdom, logistics and distribution; Unit to provide those services, and provide after sales services.

The General Investment Authority (KIA) granted the first investment license in the Kingdom's commercial sector to foreign ownership wholly to Dow Chemical Company after the Cabinet approved the opening of the retail and wholesale sector to international companies with 100% ownership. Dow Chemical, founded in the Dow Jones Index, was founded 120 years ago as one of the world's largest companies in petrochemicals, manufacturing, innovation and research. Its annual revenue for the year 2015 is about $ 48 billion, with 51,000 employees. In the Kingdom, its presence is a great way to add high and qualitative returns to the petrochemical industry of the Kingdom.

http://www.aleqt.com/2017/05/19/article_1189851.html

More than 500 American companies invest in the Kingdom with 10
billion dollars

https://twitter.com/x/status/865632529398644736

A lot of promising economic deals were signed between the Saudi Arabian and US CEO forum.

https://twitter.com/SAUSCEOForum

Almost all large construction contracts have been put on hold because of a lack of funds by the Saudi government. Example the Jeddah airport sit 80% complete without any means to finish it.

I wish the Saudis the best. I am not anti Saudi at all... I'm just saying that they are not as rich as they used to be.

Oil is finished... very soon electric cars and the shale oil revolution will ensure OPEC is an emperor without cloths. The have lost their cartel monopoly

 

[Gomig-21]

Yes, it is.

Headscarfs are actually not obligatory in KSA. What is obligatory is the abaya. In less conservative regions in KSA like Jeddah you can see local women without headscarfs. If you notice the interpreter (a Saudi Arabian-American women) she is not wearing a headscarf either. Anyway I don't honestly care about this stuff. So irrelevant IMO.

Yes, definitely. Several other women not wearing them, either. I only stated those particular 2 because they didn't come off the plane that way, especially the way Trump criticized Michelle Obama for not doing it and now they are. A little hypo but we'll let it go.

 

[Muhammed45]

View attachment 398171 View attachment 398172 View attachment 398173

I don't blame you boys

Ok, in all seriousness, can someone tell me what this $109 billion and possibly $350 billion in arms sales is without pasting 20,000 words?

So far I know of THAAD, Patriot, LCS, Bombs/guidance kits, ~100 Abrams and 150 helicopters.

Not sure if that amounts to $109 billion though.

I won't laugh at this Amir

They permitted a Zionist sh!t to violate Muslim rules and walk on our holy land without hijab. It was a humiliation for Muslims. Losers have no will

 

[Saif al-Arab]

Almost all large construction contracts have been put on hold because of a lack of funds by the Saudi government. Example the Jeddah airport sit 80% complete without any means to finish it.

I wish the Saudis the best. I am not anti Saudi at all... I'm just saying that they are not as rich as they used to be.

Oil is finished... very soon electric cars and the shale oil revolution will ensure OPEC is an emperor without cloths. The have lost their cartel monopoly

You see your ignorant comments is the reason why I in general don't discuss internal Saudi Arabian matters with non-Arabs unless they are informed.

The new King Abdulaziz Airport

After a year of delay, construction work on Jeddah’s new King Abdulaziz Airport is now 88 percent complete and the airport is expected to operate in mid-2018. (Photos by Lulwa Shalhoub)

http://www.arabnews.com/node/1093091/new-king-abdulaziz-airport#

From 13 million to 80 million.

https://en.wikipedia.org/wiki/King_Abdulaziz_International_Airport

Well, as I said then it is a good thing that KSA has the largest sovereign wealth fund in the world (soon by far the largest when 5% of ARAMCO will be sold), has trillion dollars worth of investment abroad, has a mineral wealth worth trillions of dollars, has one of the largest shale oil reserves in the world (oh, the irony), one of the largest gas reserves in the world, one of the largest potentials in terms of solar and wind energy and renewables in general etc.

As I said, please inform yourself, read some of the articles that I have posted and then talk about bankrupcy and make weak attempts of trolling.

Well, it does not seem like the case (you wishing KSA the best). No offense. Don't take my post as a hostile one but it is tiring on the long run to reply to posts of this nature. I am never initiating such discussions as I have no need to impress foreigners etc. What I am interested in is what today's and tomorrow's meetings, signed deals and talks will amount to.

Yes, definitely. Several other women not wearing them, either. I only stated those particular 2 because they didn't come off the plane that way, especially the way Trump criticized Michelle Obama for not doing it and now they are. A little hypo but we'll let it go.

Haha, we are all hypocrites at the end of the day to a lesser and bigger degree. Politicians first and foremost.

Anyway I have no problem with Obama or Trump for that matter. The latter is just hilarious as hell so this is why I like it and his current policies vis-a-vis KSA/GCC and Arab world are not too bad either so I won't complain for now at least.

 

[Clutch]

You see your ignorant comments is the reason why I in general don't discuss internal Saudi Arabian matters with non-Arabs unless they are informed.

The new King Abdulaziz Airport

After a year of delay, construction work on Jeddah’s new King Abdulaziz Airport is now 88 percent complete and the airport is expected to operate in mid-2018. (Photos by Lulwa Shalhoub)

http://www.arabnews.com/node/1093091/new-king-abdulaziz-airport#

From 13 million to 80 million.

https://en.wikipedia.org/wiki/King_Abdulaziz_International_Airport

Well, as I said then it is a good thing that KSA has the largest sovereign wealth fund in the world (soon by far the largest when 5% of ARAMCO will be sold), has trillion dollars worth of investment abroad, has a mineral wealth worth trillions of dollars, has one of the largest shale oil reserves in the world (oh, the irony), one of the largest gas reserves in the world, one of the largest potentials in terms of solar and wind energy and renewables in general etc.

As I said, please inform yourself, read some of the articles that I have posted and then talk about bankrupcy and make weak attempts of trolling.

Well, it does not seem like the case (you wishing KSA the best). No offense. Don't take my post as a hostile one but it is tiring on the long run to reply to posts of this nature. I am never initiating such discussions as I have no need to impress foreigners etc. What I am interested in is what today's and tomorrow's meetings, signed deals and talks will amount to.

I was there just a couple months ago... the site was shutdown with no work being done... yes, 80% of the work has been done... the 20% can't at $50 / bbl oil.

Please don't pull the wool over people's eyes

Beautiful pics of the partially completed airport... looks very nice.

 

[Morpheus]

Almost all large construction contracts have been put on hold because of a lack of funds by the Saudi government. Example the Jeddah airport sit 80% complete without any means to finish it.

I wish the Saudis the best. I am not anti Saudi at all... I'm just saying that they are not as rich as they used to be.

Oil is finished... very soon electric cars and the shale oil revolution will ensure OPEC is an emperor without cloths. The have lost their cartel monopoly

Its actually 65% completed, 80% was just told to the media. It would be completed by early 2019 or mid 2019. Two things, no point arguing with any saudi guys here, anything that shows saudi in a negative manner, they will say its "irrelevent" or "propaganda".

Second, you will always have people coming to do labor work from south asian countries. Our government doesn't have any backbone to standup, when our people get exploited in saudi, because the pockets are already aliened with money, so the common man suffers.

 

[Saif al-Arab]

I was there just a couple months ago... the site was shutdown with no work being done... yes, 80% of the work has been done... the 20% can't at $50 / bbl oil.

Please don't pull the wool over people's eyes

Beautiful pics of the partially completed airport... looks very nice.

Keep ignoring all the factual facts that I wrote to you (and even was so kind to give you references to) that make your initial post invalid and keep focusing on the King Abdulaziz International Airport that you wrongly claimed was "only" 80% finished when it is 88% finished (nowadays 90% finished). Also it is normal that several infrastructural projects in the country were halted when the oil prices were at their lowest and BEFORE the government made the necessary adjustments to the budget. Most of the essential projects, if not all of them, have been resumed and those deemed too unnecessary and costly (when the huge infrastructure boom occurred under King Abdullah especially) were either halted temporarily or completely. However there is a very, very, very long way from that and to what you claimed initially.

Anyway there is no point for me to keep beating a dead horse and besides this is off-topic as well.

Its actually 65% completed, 80% was just told to the media. It would be completed by early 2019 or mid 2019. Two things, no point arguing with any saudi guys here, anything that shows saudi in a negative manner, they will say its "irrelevent" or "propaganda".

Second, you will always have people coming to do labor work from south asian countries. Our government doesn't have any backbone to standup, when our people get exploited in saudi, because the pockets are already aliened with money, so the common man suffers.

Ok, whatever you say false-flagger. I suggest you leave KSA if you are even based in KSA. You would do us all and yourself a favor but it is maybe better to spit in the bowl that feeds you? That's why your likes will be deported eventually. It cannot go fast enough.

And no, it is 88% complete and when it will be completed it will become one of the largest airports in the world so suck it.

 

[Gomig-21]

Oil is finished... very soon electric cars and the shale oil revolution will ensure OPEC is an emperor without cloths. The have lost their cartel monopoly

I honestly think it will take a little while before it's finished. Electric cars will certainly have an impact but a little further down the road. The industrial sector is and will still be very dependent on all forms of oil production, particularly diesel fuel which operates the largest form of commercial equipment and machinery all around the world. Solar energy still has to reach a much higher level of production before it starts impacting petroleum based energy production IMO. I think there is still a long way to go.

 

[Clutch]

Keep ignoring all the factual facts that I wrote to you (and even was so kind to give you references to) that make your initial post invalid and keep focusing on the King Abdulaziz International Airport that you wrongly claimed was "only" 80% finished when it is 88% finished (nowadays 90% finished). Also it is normal that several infrastructural projects in the country were halted when the oil prices were at their lowest and BEFORE the government made the necessary adjustments to the budget. Most of the essential projects, if not all of them, have been resumed and those deemed to unnecessary and costly (when the huge infrastructure boom occurred under King Abdullah especially) were either halted temporarily or completely. However there is a very, very, very long way from that and to what you claimed initially.

Anyway there is no point for me to keep beating a dead horse and besides this is off-topic as well.



Ok, whatever you say false-flagger. I suggest you leave KSA if you are even based in KSA. You would do us all and yourself a favor.

That was just an example. If you drive around Saudi you see countless construction sites boarded up with no work being done. I spoke with former construction workers who said they haven't been paid for months and are driving cabs illegally with the hopes they can get paid so they can leave the country. The Yemen war, a welfare depended country, and a diminishing source of income (oil) has put Saudi in a very hard place.

You need to get your head out of the sand. The fault lines in Saudi are very obvious because of bad planning, poor governance, and an inherently corrupt political setup.

I have great love and appreciation of the Saudi people and culture and I wish the common Saudi all the best. However, I will not shy from stating the facts.

Every Saudi expects a 6 figure civil servant plush job... such a lifestyle is unsustainable in the $50 oil. Oil is done... time to pull your sleeves up and do some of the dirty work yourself ... question is... are the Saudi youth up to the challenge?... in a very competitive world??

 

[Saif al-Arab]

That was just an example. If you drivr around Saudi you see countless construction sites boarded up with no work being done. I spoke with former construction workers who said they haven't been paid for months and are driving cabs illegally with the hopes they can get paid so they can leave the country. The Yemen war, a welfare depended country, and a diminishing source of income (oil) has put Saudi in a very hard place.

You need to get your head out of the sand. The fault lines in Saudi are very obvious because of bad planning, poor governance, and an inherently corrupt political setup.

I have great love and appreciation of the Saudi people and culture and I wish the common Saudi all the best. However, I will not shy from stating the facts.

Those are only "facts" in your own head nor do does non-existent "facts" disprove the actual facts that I wrote.

I don't take "my uncle", "I talked to some cab driver", "I drove past some building site where no builders were present in the exact moment where I drove by, which took 5 seconds" etc. talk seriously. I look at actual facts and I know more or less which building sites have continued as nothing occurred, which were halted temporarily and which were ended (small amount) for the time being.

Even the construction workers at Kingdom Tower (the world's future tallest skyscraper) resumed their work recently.

You are painting a picture that does not correspondent to the reality.

As far as expats goes, their numbers will fall by each year to eventually reach a clear minority. That's where the development is going.

Anyway none of this has anything to do with the topic. There is a "Saudi Arabia economy and news" thread somewhere. You can start a discussion there based on facts (if you can provide them) and we can take a discussion there. Be my guest.

 

[AmirPatriot]

I won't laugh at this Amir

They permitted a Zionist sh!t to violate Muslim rules and walk on our holy land without hijab. It was a humiliation for Muslims. Losers have no will

To be fair, Riyadh isn't holy... The two holy cities are.

 

[Clutch]

I honestly think it will take a little while before it's finished. Electric cars will certainly have an impact but a little further down the road. The industrial sector is and will still be very dependent on all forms of oil production, particularly diesel fuel which operates the largest form of commercial equipment and machinery all around the world. Solar energy still has to reach a much higher level of production before it starts impacting petroleum based energy production IMO. I think there is still a long way to go.

That is a misconception... electrification of the auto industry does not need to take over the 51% of the market share. It just needs to take over 20% to upset the apple cart.

There are countless papers who support this model. Shale oil is abundant ... there is too much of it... multi staged hydraulic fracturing with horizontal wells with legs over 2 km are here to stay. Sorry Saudi... OPEC has also lost its monopoly.

This Saudi large scale contracts are futile.. Saudis cannot fulfil them... it's is just a bribe by the king to ensure the Americans continue to safe the heads of the corrupt house of Saud (ensure they stay in power)... unfortunately this American administration is too stupid to see beyond the facade.