U.S.-Saudi Business Council Convenes Distinguished Board of Directors Under Leadership of Co-Chairs Lubna Olayan of the Olayan Group and Jane Fraser of Citi, Joined by Saudi Arabia’s Minister of Energy and Minister of Investment
PR Newswire
VIENNA, Va., Oct. 27, 2026
Board reaffirms unwavering commitment to the enduring U.S.-Saudi strategic and economic partnership and outlines priorities for advancing bilateral trade, investment, and commercial cooperation.
VIENNA, Va., Oct. 27, 2026 /PRNewswire/ — The U.S.-Saudi Business Council convened its Fall Board of Directors meeting on Monday, bringing together an extraordinary assembly of top business leaders from the United States and Saudi Arabia under the leadership of its distinguished Co-Chairs, Lubna S. Olayan, Chair of the Corporate Board of The Olayan Group and Jane Fraser, Chair and Chief Executive Officer of Citi. The meeting featured the participation of H.R.H. Prince Abdulaziz Bin Salman Al Saud, Minister of Energy and Minister of Industry and Mineral Resources and H.E. Fahad bin Abduljalil Al-Saif, Saudi Minister of Investment.
Representing some of the most prominent and influential companies and institutions in both countries, the Council’s Board convened at a consequential moment for the region and the bilateral relationship, reaffirming its steadfast confidence in the strength, resilience, and enduring promise of the U.S.-Saudi strategic and economic partnership.
“Even amid the challenges facing our region, the business community remains focused on the opportunities ahead,” said Lubna S. Olayan, Chair of the Corporate Board of The Olayan Group and Saudi Co-Chair of the U.S.-Saudi Business Council. “Saudi Arabia and the United States have a long history of successful business partnership, and today there is greater potential than ever to deepen those ties. By bringing our executive leaders closer together, we can create new avenues for investment, innovation, and economic growth in both countries.”
“This meeting comes at an important moment for the U.S.-Saudi relationship, and it reflects the enduring commitment of business leaders in both countries to work together in support of economic growth and opportunity,” said Jane Fraser, Chair and CEO of Citi. “The U.S.-Saudi Business Council plays a vital role in strengthening connections, fostering investment and advancing the shared prosperity of our two nations.”
H.R.H. Prince Abdulaziz bin Salman, Minister of Energy and Minister of Industry and Mineral Resources, underscored the Kingdom’s commitment to energy security, industrial development, and emerging opportunities in artificial intelligence and critical infrastructure, while emphasizing the strength of the U.S.–Saudi business partnership.
H.E. Fahad Al-Saif, Minister of Investment, outlined the Kingdom’s forthcoming National Investment Strategy 2.0, emphasizing a strategic shift from investment promotion to investment conversion, with a focus on accelerating economic growth.
Both ministers engaged directly with the Council’s leadership on key priorities and emerging opportunities for deeper U.S.–Saudi collaboration, reaffirming the special business relationship between our two countries and underscoring the critical role of the U.S.–Saudi Business Council in shaping and advancing that relationship.
The meeting marked an important milestone in the Council’s renewed chapter of leadership and engagement, reflecting the collective commitment of its distinguished Board to advancing an ambitious, action-oriented agenda for expanding bilateral commerce, unlocking investment opportunities, and strengthening the commercial relationships that unite the two countries.
Central to the discussions was the Council’s expanding advocacy agenda, including its work to identify and address systemic barriers to bilateral trade and investment, to develop practical and actionable recommendations, and to deepen collaboration with government and private-sector stakeholders in both countries. Board members also considered emerging strategic opportunities to accelerate commercial engagement and facilitate partnerships across priority sectors of mutual interest.
Against the backdrop of ongoing regional challenges, the Board underscored the importance of sustained engagement, institutional continuity, and close cooperation between the United States and Saudi Arabia. Its deliberations reflected a shared conviction that the bilateral economic relationship rests on a strong and enduring foundation, and that the private sector has a vital role to play in shaping its next chapter.
“The extraordinary caliber and commitment of our Board speak to the significance of the U.S.–Saudi economic relationship and to the tremendous opportunities that lie ahead,” said Charles S. Hallab, President and CEO of the U.S.–Saudi Business Council. “At a time of regional uncertainty, our message is one of unwavering confidence in the strength and resilience of this vital partnership. We are more determined than ever to translate that confidence and that commitment into meaningful action—addressing barriers, opening new avenues for business and investment, and advancing the shared economic interests of our two countries.”
The meeting further affirmed the Council’s unique position as the leading institutional platform for U.S.–Saudi business engagement and its commitment to working in close partnership with public- and private-sector leaders to strengthen the foundations of bilateral economic cooperation.
With the collective leadership, experience, and global reach of its Board of Directors, the U.S.–Saudi Business Council enters this next chapter with renewed purpose, strengthened institutional standing, and an unwavering commitment to advancing one of the world’s most consequential bilateral economic partnerships.
About the U.S.–Saudi Business Council
Established in 1993 by Saudi Royal Decree and U.S. Executive Action, the U.S.–Saudi Business Council is the premier bilateral organization dedicated to advancing business, trade, and investment between the United States and Saudi Arabia. Bringing together senior corporate and government leadership from both countries, the Council serves as a strategic platform for shaping the bilateral business agenda, unlocking major investment opportunities, and addressing critical issues affecting trade and commerce between the two nations.
The Council’s Board of Directors is co-chaired by Lubna S. Olayan (Olayan Group) and Jane Fraser (Citi) and brings together some of the world’s most prominent and influential business leaders, including Larry Fink (BlackRock), Amin Nasser (Saudi Aramco), Brian Moynihan (Bank of America), Darren Woods (ExxonMobil), Mike Wirth (Chevron), Ruth Porat (Alphabet/Google), Ed Bastian (Delta Air Lines), Brendan Bechtel (Bechtel), Vimal Kapur (Honeywell), Chuck Robbins (Cisco), James Quincey (The Coca-Cola Company), Jim Fitterling (Dow), James Taiclet (Lockheed Martin), Jenny Johnson (Franklin Templeton), Chris Nassetta (Hilton), Noel Wallace (Colgate-Palmolive), Robert Wilt (Ma’aden), John Pagano (Red Sea Global), Tareq Amin (HUMAIN), Tareq AlSadhan (Saudi National Bank), Abdullah Al Zamil (Zamil Group), Rami Al Turki (Al Turki Group), and Kamal Bahamdan (Safanad). The Council is led by President, Chief Executive Officer and Board Director Charles S. Hallab.
Ali Alwazir
PR Manager
U.S.–Saudi Business Council
aalwazir@ussaudi.org
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