* High level officials and business leaders from Saudi Arabia and the US meet to explore opportunities for greater economic collaboration at Forum in Atlanta
* GE's leaders highlight company's commitment to job generation for Saudis, investments in training and leadership development
Jeddah, Saudi Arabia; December 5, 2011: One of the oldest and trusted partners in Saudi Arabia's growth story, GE (NYSE: GE) is showcasing the company's 80-year-heritage in the Kingdom, its long-term partnerships with public and private sector leaders, and its commitment to the Saudi Vision 2020 to promote diversification, create new jobs and drive overall welfare, at the US-Saudi Business Opportunities Forum to be held from December 5 to 8, 2011, at the Omni CNN Center in Atlanta.
Presenting the company's unique partnership model through its past accomplishments, present commitment and future vision, GE is also underlining the global stature of Saudi Arabia as a preferred investment destination with its participation at the Forum. Senior government officials and business leaders from Saudi Arabia and the US are attending the second annual event, organized by the Committee for International Trade, US-Saudi Arabian Business Council and the Saudi-US Trade Group.
Nabil Habayeb, GE's President & Chief Executive Officer for the Middle East, North Africa and Turkey, said: "In ease of doing business, economic competitiveness, GDP growth and overall economic performance, Saudi Arabia is today among the world's frontrunners. As one of our oldest and largest markets in the Middle East , GE has a history of over 80 years of partnerships in the Kingdom across all vital growth sectors -- from energy and oil & gas to aviation, power, water and healthcare.
"Through our participation in the US-Saudi Business Opportunities Forum, we are reiterating the growth potential that the Kingdom offers and also demonstrating our commitment to the long-term vision of Saudi Arabia. Economic diversification, sustainable growth, job creation and development of human resources, as outlined by the Saudi Vision 2020, are the pillars of our operational strategy."
At the US-Saudi Business Opportunities Forum, GE is showcasing its strong credentials across various economic sectors. With over 800 employees in the Kingdom across seven offices and facilities, and revenues of US$2.5 billion in 2010, GE has announced a robust Saudization plan backed by comprehensive training programs for young nationals. Having invested more than SAR 1 billion in localization and manufacturing projects in the Kingdom, GE plans to double its workforce by 2013.
This will be led through initiatives such as the GE Energy Manufacturing Technology Center opened in 2011 that further supports the Saudi vision of promoting manufacturing and exports. Also featuring a dedicated training facility, the Center has the potential to create more than 2,000 direct jobs including 500 jobs for Saudi technologists.
Currently, several of these young professionals are being trained by GE through its educational programs in partnerships with leading universities such as King Fahd University of Petroleum and Minerals and technical colleges under the Technical and Vocation Training Corporation (TVTC).
Habayeb added: "GE has traditionally provided the most advanced technologies that add to the efficiency of industries in Saudi Arabia. Our current thrust on creating new jobs, diversifying our operations and instilling business leadership skills in young Saudi professionals is a mark of the evolution of GE as a committed partner to the Kingdom's growth."
GE's partnerships in the Kingdom -- both with government departments and the private sector -- will also be on the spotlight at the Forum in Atlanta. Charting the evolution of the company from providing the first gas turbines for the first refineries in Saudi Arabia, GE has followed a company to country approach, where the focus has been on providing timely and modern technologies and solutions that help address pressing requirements.
This is reflected in GE's track-record of supporting nearly 50 percent of the Kingdom's power generation through the 500 gas turbines supplied to various partners in the Kingdom. Today, GE operates in about 40 Saudi Electricity Company power plants, a partnership nurtured over four decades.
In addition to supplying award-winning technology solutions for Marafiq Independent Water & Power Plant in Jubail Industrial City -- the world's largest IWPP -- GE delivers more than 180 million liters of clean water to the most remote corners of the Kingdom through its GET Water partnership with Al Tamimi. GE's partnerships in the aviation sector extend to powering commercial and military aircraft, as well as supporting Saudi Arabia's state-of-the-art facility at King Abdul Aziz Airport in Jeddah.
Responding to the Kingdom's requirements for modern healthcare technologies, especially to address the rising concern of lifestyle diseases, more than 10,000 GE Healthcare technologies today serve nearly 90 percent of hospitals in Saudi Arabia. GE also launched its healthymagination initiative last year to provide greater access to high quality care at lower costs, and is at the forefront in the Kingdom's battle against breast cancer.
The investment commitments of GE in Saudi Arabia are highlighted by the GE Energy Manufacturing Technology Center and the GE Saudi Water & Process Technology Center -- both in Dammam; GE Healthcare Service Support and Training Centers in Riyadh; the GE Healthcare & El Seif Development Joint Venture; GE Energy Center of Excellence Power Technology Center; and GE Sensing & Inspection Technologies JV with Ali A Tamimi Co.
At the Forum, senior GE leaders will also share their outlook on several key business and social growth opportunities at various panel discussions. Jeff Barnes, Leader -- Global Leadership Development of GE, will address the session on 'Education: Investing in Human Capital;' Joseph Anis, President & CEO of GE Energy Middle East, will moderate a discussion on 'Business Opportunities in the Oil, Gas & Petrochemical Sectors;' James Suciu, President of Global Sales & Marketing, GE Energy, will take part in the session on 'Nuclear and Renewable Energy: Building Resources for the Future;' and Hisham Bahkali, Country Executive, GE Energy Saudi Arabia will address the panel on 'Opportunities in Water & Electricity.'
Kelly Home
ASDA’A Burson-Marsteller
[email protected]
+971 4 4507 600
Nivine William
ASDA’A Burson-Marsteller
[email protected]
+971 4 4507 600
Caroline Wehbeh
GE Communications Leader, North Africa
[email protected]
+971 4 429 6318