Saudi Arabia will grant licenses to US-based multinational 3M and pharma major Pfizer to operate and invest in the kingdom, Arab News quoted Minister of Commerce and Investment Majed bin Abdullah Al-Qasabi as saying.

Agreements will be signed during Deputy Crown Prince Mohammad bin Salman’s ongoing visit to the US, the report quoted Al-Qasabi, citing Saudi Press Agency (SPA).

“The Dow Chemical Company became the first foreign firm to be awarded a trading license from the Saudi government, with 100 per cent ownership,” Al-Qasabi said.

Meanwhile, Apple’s entry into the Saudi market is under discussion, according to SPA.