Interactive Limited enters into joint venture in Saudi Arabia
The Saudi Arabian Government Investment Authority (SAGIA), has recently issued a new trade license to Interactive Saudi Arabia Limited, a joint venture company whose share holders are Ram World, Hoshan Company, Interactive Limited and Saudi Offset Limited Partnership.
The joint venture is part of a regional expansion drive led by Dubai Internet City based- Interactive Limited. Interactive is a web-based solution developer in the Middle East, with expertise in developing applications for government departments and financial institutions and is partially owned by Deutsche Bank and a number of multinational investors.
In Saudi Arabia, Interactive will focus on Saudi Government and government related entities, Saudi financial institutions and Saudi corporations. Interactive Saudi Arabia Limited will web-enable existing systems, provide creative e-government solutions, integrate existing packaged solutions to the web, introduce information technology (IT) for office reengineering and offer new IT technology.
The new company, capitalized at four million Saudi riyals ($1.1 million) is formed under the Saudi Economic Offset Partnership with the approval of the Saudi Economic Offset Program. DevCorp International is the General Partner of the Saudi Offset Limited Partnership which is funded by Thales International Offset and Raytheon Company as Limited Partners.
Headquartered in Riyadh, Hoshan provides office equipment, telecommunications equipment and service and office automation services. Hoshan represents a large number of multinational companies in Saudi Arabia and maintains operating branches throughout the Kingdom. The Company employs over 600 marketing, engineering and customer relationship staff in its various businesses.
Ram World is one of the first web design and development organizations to be set up in the Kingdom of Saudi Arabia. Since 1998, Ram World has been providing various technical services, including Internet solutions such as web site hosting, web designing, web marketing, domain registration, e-commerce solutions, and technical training. — (menareport.com)
© 2002 Mena Report (www.menareport.com)