GE will collaborate with the Saudi Arabian Industrial Investments Company - SAIIC - to develop further joint ventures to expand and localise industrial value chains with the intention of serving the global market. It is also partnering with Saudi Aramco, Cividale SpA, Middle East Propulsion Company, Saudi Industrial Property Authority, Prince Mohammed bin Salman bin Abdulaziz Al-Saud foundation, Asharqia Chamber, National Industrial Clusters Development Programe, and more.
The new initiatives were announced by GE's Chairman and CEO, Jeffrey Immelt, during a visit to the Kingdom during which he underlined the company's commitment to Saudi Arabia's industrial goals.
He said: “We are a committed partner in supporting the Kingdom’s transformational and diversified growth, underscored by our 80 years of presence in Saudi Arabia. Our roots are deep, and today with our partners, we are growing in a new and visionary way. Together, we will create quality jobs for Saudi youth, help build a robust SME chain, boost exports, enhance economic competitiveness, and support the vision and aspirations of Saudi Arabia. New sustainable and equitable opportunities as well as strong business outcomes will flourish under these initiatives.”
Read the June 2016 issue of Business Review Middle East magazine