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More than 50 commercial attaches meet in Riyadh
Published in Alriyadh on 19 - 11 - 2015

A number of commercial attaches in the embassies of more than 50 major countries confirmed their keenness to invest in the vast opportunities in the Kingdom of Saudi Arabia in the areas of trade and investment in partnership with the Saudi business sector and exchanging mutual benefits to serve the interests of their countries and the Kingdom.
This came during the first annual meeting, which was organized by Riyadh Chamber on Tuesday at the Palace of Culture in the embassies district in the presence of representatives of about fifty countries aimed at strengthening trade and investment partnership with these countries and opening new opportunities for Saudi products in the markets of these countries.
The Secretary General of Riyadh Chamber Dr. Mohammed Al-Kathiri said in his speech during the meeting, 'The Kingdom has huge economic potentialities as it is the largest economy in the region, and it also has a vast market that provides unlimited opportunities for investment and trade.'
He pointed out that the volume of the Kingdom's foreign trade with the world exceeded SR 2 billion, equivalent to ($ 533 billion) in 2012, noting that gives a strong indication of the Kingdom's position on the map of world trade, and allows ample opportunities for the development of distinctive trade and investment relations between the Kingdom and the outside world.
For his part, the Director General of Investment Attraction Department of Saudi Arabian General Investment Authority Imad Al-Abdul Qader provided a presentation about investment environment in the Kingdom, saying that the Authority's priorities concentrate on the work to achieve a quantum leap in the investment environment, and direct quantitative investments to provide competitive sectors to accomplish a direct economic impact on the development movement, explaining that the united investment plan adopted by the Authority aims to create an integrated and coherent system for the development of investment sectors, and work on practicing investment in an easier and more competitive way.
He also said the Authority counts on the private sector to play a bigger role in the development of investment and assists it in the localization of the industry in the Kingdom, increasing its competitiveness levels internally and externally, and getting a larger share of the world market, especially as the contribution of the private sector amounted to 40% of the gross domestic product that totaled SR 652 billion in 2014, noting that the number of foreign companies operating in the Kingdom is an evidence to the development of the investment environment.


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