RIYADH: The Saudi-US Investment Forum, took place on May 13, 2025, making it a key milestone in the growing economic partnership between Saudi Arabia and the United States. Top leaders from both countries, including key business figures such as Elon Musk attended the event, to discuss the kingdom’s ongoing economic transformation under Vision 2030.
Uber CEO Dara Khosrowshahi announced that autonomous vehicles will be launched in Saudi Arabia within a year. Uber has grown rapidly in the kingdom employing more than 140,000 Saudi drivers, who now serve over 4 million riders across 20 cities. Khosrowshahi stated that self-driving technology will increase safety and lessen costs and mentioned that Uber has collaborated with 18 partners to ensure a safe launch.
The forum highlighted Saudi Arabia’s ambitious giga-projects. Jerry Inzerillo, CEO of Diriyah Company, described the $63.2 billion transformation of Diriyah, a UNESCO World Heritage Site, into a global cultural and tourism hub. The project that employs 45,000 workers and involves 83 American companies, has already received 3 million visitors.
Michael Dyke, CEO of the New Murabba project, presented the Mukaab, a huge technologically advanced building which will become an iconic landmark in Riyadh by 2030. The Mukaab will offer thrilling experiences through artificial intelligence and holograms.
Rayan Fayez, Deputy CEO of NEOM, spoke of the $500 billion city, which is being built on the Red Sea. NEOM, spanning 26,500 square kilometres, relies on advanced infrastructure, renewable energy and the world’s largest green hydrogen project, which was built in partnership with US companies.
Tourism was another significant subject. Ahmed Al-Khateeb, Minister of Tourism, announced that Saudi Arabia received 115 million tourists in 2024, exceeding the target of 100 million set by Vision 2030. The sector employs 7% of the workforce, a 2% increase, and aspires to attract 50 million international tourists by 2030. Tourism’s contribution to GDP is projected to go up from 5% to 10%, making it as significant as oil to the economy.
In 2024, trade between Saudi Arabia and the US amounted to $32.5 billion, with US foreign direct investment now at $54 billion, the largest in the kingdom. The forum addressed the ongoing collaboration in technology, clean energy and advanced manufacturing, indicating both countries’ commitment to innovation and economic growth.
