KINGSTON, Jamaica — The Kingdom of Saudi Arabia (KSA) has expressed its vision of catalysing the expansion of Saudi Arabian business operations in the Americas, especially throughout the Caribbean and Latin American region.

The revelation was made by a high level delegation from Saudi Arabia during the first Jamaica-Saudi Arabia bilateral conference held on Thursday, June 24 at the Jamaica Pegasus Hotel.

The conference, which was hosted by Minister in the Ministry of Economic Growth and Job Creation Senator Aubyn Hill, focused on inward investments to foster economic growth and the creation of new local jobs.

Minister of Tourism for Saudi Arabia, Ahmed Al Khateeb, led the delegation which also included Vice President for Investment Attraction and Development in the Ministry of Investment in Saudi Arabia, Abdurahman Bakir and General Manager for Investment Management and Oversight in the Saudi Ministry of Tourism, Hammad Al-Balawi.

Hill, who has extensive expertise and knowledge in the Middle East, welcomed Al Khateeb to Jamaica and expressed the government’s commitment to strengthening the Jamaica-Saudi Arabia relationship.

He also renewed the government’s commitment to create a modern regional and international logistics centre in the Caymanas area beside Kingston.

The discussion between the ministers specifically outlined the upcoming logistics centre, where the Kingdom of Saudi Arabia has been invited to become an anchor investor in the Jamaica Special Economic Zone Authority (JSEZA) — Jamaica’s logistics, freight, light industrial and technology campus.

The government said this will serve as the initial step in a multi-strategy objective which will see the bilateral relationship mature into a magnet for Middle Eastern investors seeking a welcoming and responsive government and ecosystem for operational business stability in Jamaica.

The bilateral exchange also outlined the National Water Commission’s (NWC) expansion and modernisation plans, which Hill expressed the opportunity for Saudi Arabia to play a significant role in the prospective US$3.5 billion corporatisation and privatisation of the NWC.

This plan includes US$800 million slated for the downtown Kingston sewage expansion and upgrade project. Separately, it is expected to privatise the Central Wastewater Treatment Company’s (CWTC) — Soapberry Wastewater Treatment Plant. The government said its plan to build 70,000 houses in the next four years will depend substantially on the upgrading of potable and wastewater treatment facilities.

Hill further explained the development of the southeastern highway from Kingston via St Thomas to Portland as one such new location. Another is in the Port Henderson vicinity.

Meanwhile, Minister Al Khateeb said Saudi Arabian investors had interest in investments of sufficient size and funding needs. He also emphasised that given Jamaica’s history, location and international standing in the worldwide tourism industry, the country should look to establish investment destinations for very large tourism developments.

The ministers committed to establish a working group to be comprised of persons from both sides to discuss, agree and finalise a detailed approach to implement the key points of any future agreement.

Minister of Tourism Edmund Bartlett who invited and hosted Minister Al Khateeb also attended the investment discussions having held detailed talks on Jamaican Tourism resources and expansion and UN World Tourism Organization.

Ministers Bartlett and Hill met the Saudi Arabia Tourism Minister in Riyadh last month.