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GUEST COLUMN: Saudi Arabia’s ‘desert is blooming’ — for Colorado

Saudi Arabia wasn’t on my bucket list of places to visit for business or pleasure; it should have been. Colossal economic changes are transforming the once oil-dependent nation into a high-tech, diversified economy under the direction of Vision 2030, the nation’s blueprint for progress. As the president of the Colorado Business Roundtable, I recently witnessed firsthand how these changes are creating unprecedented opportunities for entrepreneurship and innovation for the men and women of Saudi Arabia. As they forge a new direction, Colorado businesses have an open door to investment and collaboration. The desert is blooming.

Last month, a delegation of Colorado Business Roundtable board members traveled to Saudi Arabia to develop long-term business connections that will benefit the economic interests of Colorado and the Kingdom. The visit followed up on a virtual Colorado Business Roundtable event last year with Saudi Ambassador to the United States Her Royal Highness Ambassador Reema. The Roundtable represents Colorado businesses that globally employ 3.2 million people and generate $1.3 trillion in annual revenue.

Our delegation participated in the Future Investment Initiative, an annual economic and investment forum in Riyadh dubbed “Davos in the Desert,” which featured dynamic speakers and attendees from across the globe. Among the event’s priorities was the identification and dissemination of technology-for-good innovations with the potential to improve global health, education, and sustainability outcomes.

While the highlight of the trip was the opportunity to engage with His Royal Highness Crown Prince Mohammad bin Salman Al Saud and Ambassador Reema, we also met with entrepreneurs and government officials and witnessed firsthand Saudi Arabia’s investment in its economy, culture, and tourism.

Her Excellency Dr. Iman Almutairi, deputy minister of commerce, provided a presentation about the Vision 2030-aligned goals of the National Competitiveness Center. She shared how the NCC is streamlining processes to make it easier to start a business and get a passport or work visa. During the reception, we met a dozen men and women who had started businesses that were thriving under the new regulatory climate.

Jerry Inzerillo, CEO of the Diriyah Gate Development Authority, gave us a tour of Ad Diriyah, a multibillion-dollar development project in the Kingdom’s historic and cultural heart that showcases the nation’s 300-plus years of history through educational, retail, and dining experiences. NEOM Tech and Digital executives showed us plans for the futuristic city they are building — it will be the size of Massachusetts!

Deputy Minister of Culture His Excellency Hamed Fayez explained how the government is promoting the country’s culture and heritage through initiatives in publishing, cuisine, art, museums and fashion.

Our delegation toured AlUla, one of the oldest cities in the Arabian Peninsula and home to Hegra, a UNESCO World Heritage site.

Rich in historical, geological, and geographical significance, this ancient city, once at the crossroads of The Silk Road and The Incense Route, has only recently been re-discovered by the world.

We also spoke with His Excellency Adel Aljubair, minister of state for foreign affairs, former Saudi ambassador to the United States, and foreign policy advisor to King Abdullah, discussing the U.S./Saudi relationship and the Memorandum of Conversation signed by King Abdul Aziz Al Saud and President Franklin Roosevelt aboard the U.S.S. Quincy on Feb. 14, 1945.

I was particularly impressed with Ambassador Reema and the other women I met in government and business.

They are at the forefront of historic change for women in Saudi Arabia. Women’s workforce participation goals from Vision 2030 have already been met, nearly 10 years ahead of schedule. Today, women make up 33% of Saudi’s workforce, nearly double what it was five years ago.

While the women we met spoke of former gender restrictions, they were enthusiastic about the future and the opportunities that have come from economic empowerment.

Saudi Arabia is growing quickly, and our Colorado business executives were impressed with how the country is courting outside business investment, technology collaboration, and tourism. Join our upcoming webinar to hear more impressions directly from the Colorado delegation and learn from H. Delano Roosevelt, president of the U.S.-Saudi Business Council and grandson of President Franklin Roosevelt, on ways Colorado businesses can conduct or grow business interests in the Kingdom.

It was an honor to represent Colorado businesses with this delegation, and we look forward to connecting other Colorado businesses to Saudi Arabia where the cultural and economic transformation we witnessed can only be described as big, bold, rapid and inviting.

Debbie Brown is president of the Colorado Business Roundtable.

Debbie Brown
Debbie Brown
Saudi Arabia Defense Minister Mohammad bin Salman Al Saud arrives July 20, 2016, to attend the Global Coalition to Counter ISIL Meeting, hosted by Defense Secretary Ash Carter at Andrews Air Force Base, Md. (The Associated Press file)
Saudi Arabia Defense Minister Mohammad bin Salman Al Saud arrives July 20, 2016, to attend the Global Coalition to Counter ISIL Meeting, hosted by Defense Secretary Ash Carter at Andrews Air Force Base, Md. (The Associated Press file)
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