SR35b Saudi projects in Makkah discussed

DUBAI — A showcase of investments and projects in Makkah exceeding SR35 billion (Dh34.28 billion) was part of a recent forum discussing the Saudi Arabian General Investment Authority's (SAGIA) contribution to the development of the Saudi economy.

By A Staff Reporter

Published: Tue 14 Jun 2005, 10:45 AM

Last updated: Thu 2 Apr 2015, 4:44 PM

Amr Al Dabbagh, Governor of SAGIA, highlighted to a crowd of male and female business leaders on Saturday at the Makkah Chamber of Commerce SAGIA's contribution to the development of the Saudi economy as well as investment opportunities in the Makkah region during a forum sponsored by Fakih Research Center.

Al Dabbagh spoke about recent developments in the Saudi economy and SAGIA's role in fostering growth in the country's key investment sectors. The forum focused on recent efforts towards development of investment-friendly reforms, policies and legislations to attract local and international investors

Also discussed at the forum were SAGIA's six primary functions in achieving their long term goal of an economic growth rate double that of Saudi Arabia's current population growth rate.

Al Dabbagh also stressed the significance and importance of maintaining the partnership between the government and the private sector in order to accomplish their goals.

SAGIA is playing a pivotal role in helping attract investments aimed at developing the Kingdom's various regions and is working closely with a number of investment-related bodies to put in place incentives designed to lure capital to lesser-developed regions.

In order to monitor investment opportunities in each domestic region, Al Dabbagh emphasized that SAGIA will liaise with local councils as well as chambers of commerce and industry. This process will allow critical evaluation of regional comparative advantages while making known to interested local, regional, and international investors the opportunities available.

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