Mr. Bhardwaj has been a regular participant for years in the U.S.- Saudi Investment Forums, however this conference marks a new chapter in trade relations between U.S. and Saudi businesses. The Investment Forum coincided (by design) with King Salman bin Abdulaziz Al Saud’s first visit to the White House and was well attended by ministers, government and quasi-government institutions and prominent merchant families from the Kingdom.
The one-day conference was held at the Ritz-Carlton Washington, D.C. and session topics included fostering an attractive investment climate in Saudi Arabia and methods by which trade between the two countries can be increased. In light of falling oil prices, a need to diversify the economy away from hydrocarbons was also a topic much discussed.
Saudi investment into the U.S. and particularly into U.S. real estate has been increasing steadily. “Investment objectives including wealth preservation, attaining geographical diversification and generation wealth transfer will continue the inflow of Saudi investments into U.S. [real estate]. Many Saudi investment firms and family offices are increasing their presence in the U.S. in order to deploy capital strategically”, said Mr. Bhardwaj of CoInvestment Partners. He added that CoIP has been working with Saudi investors for nearly half a decade and comprehends that every capital source has a unique investment objective and style.”
The U.S.-Saudi Investment Forum, organized by the Saudi Arabian General Investment Authority in conjunction with the Council of Saudi Chambers and the U.S.-Saudi Business Council, served as an opportunity for executives and officials to explore investments in energy, transportation, financial services, health, education, and financial services. Signing ceremonies between U.S. and Saudi businesses were a feature of the event.