Makkah Governor states that Saudi Arabia has fully opened its doors to foreign investment
Senior government and corporate leaders were some of the delegates at the opening of the 2002 Jeddah Economic Forum. Makkah Governor Prince Abdul Majeed Bin Abdul Aziz opened the three-day forum at the newly opened Jeddah Hilton at a ceremony that was also attended by Sheikh Salman Bin Hamid Al-Khalifa, the crown prince of Bahrain and businessman Prince Alwaleed Bin Talal, reported a press release.
In his opening address, Makkah Governor Prince Abdul Majeed said that the forum was a sign to the world that the Kingdom openly welcomed foreign investment in different areas of Saudi Arabia’s economy. He added that the theme of the conference – “Managing in Complex Global Environment” – would explore the world economic environment and how civilizations should come together through trade and investment for greater levels of understanding and cooperation.
Prince Al-Khalifa said that the Gulf Cooperation Council Region (GCC)’s economy must develop with the rest of the world and take all necessary steps forward. The Gulf’s market should have transparency and clarity, and should fight administrative corruption and have constructive criticism to encourage essential outside investors, he said. The development of the technological infrastructure of the Gulf region was the most essential area for expansion and improvement, he added.
Former President of the United States, William Jefferson Clinton and Prince Alwaleed Bin Talal will give the second day keynote addresses. The full three days of speeches and discussions will address some of the challenges facing the global economy after the September 11 attacks on the US. Speakers will debate the role of business in conflict prevention, crisis communications, and the need to develop greater levels of understanding and tolerance between people of different cultures and religions.
Organized by the Jeddah Marketing Board (JMB) the forum promises incisive presentations followed by open and broad-ranging discussions. Top executives are scheduled to appear at the event, including the chairman and CEO of Occidental Petroleum, Ray Irani, one of the founding partners of the Carlyle Group, David Rubenstein the chairman and CEO of the Hill & Knowlton Group, Howard Paster.
The forum is being sponsored by some of the Kingdom’s best known companies, including the Kingdom Holding Company, the Abdullatif Jameel Group, the Jeraisy Group, the National Commercial Bank, the Saudi American Bank, the Middle East Broadcasting Centre (MBC), the Saudi Research and Publishing Company, the Al-Rajhi Commercial Exchange, Dallah Al-Baraka, and the Saudi Cable Company. — (menareport.com)
© 2002 Mena Report (www.menareport.com)