'Saudi Arabia will continue to advance reform agenda to ensure fiscal sustainability' Al-Jadaan attends 2021 annual meetings of WPG and IMF    KAUST, NCM sign agreements support two centers aimed to mitigate climate impacts in ME    Saudi, Chinese foreign ministers discuss developments in phone call    Saudi Pavilion in Expo 2020 Dubai achieves record number in daily visits    Sudden electrical failure causes cancelation of Haramain Railway trips for two days    Saudi Arabia scores highest regional progress in Maritime Connectivity Index    Crown Prince launches Strategic Offices for development of Al Baha, Al Jouf and Jazan    KAICIID chief underlines key role of religious and humanitarian institutions in confronting challenges    18 dead, dozens missing in floods in southern India after heavy rain    MoI, Saudi Exports participate in 2021 GITEX in Dubai    Harsh winter expected to bite Kingdom this year    SFDA wins 2021 UNIATF Award on prevention and control of NCDs    Social distancing stickers from all over Grand Mosque is being removed    AFC: Al-Nassr, Al-Hilal set for semi showdown in Riyadh    Ministry of Culture inaugurates BIENALSUR Contemporary Art Exhibition in JAX, Diriyah    Step up, urges WHO as figures reveal 1 in 4 adults don't exercise enough    Tributes pour in for killed Kenyan athlete    UN honors Henrietta Lacks, whose cells transformed medical research worldwide    Princess Reema named member of IOC Coordination Commission for Brisbane 2032    Sami's brace seals Saudi Arabia on 4th winning streak in World Cup qualifier Green Tops Group B    Saudis, expats mourn death of prominent Filipino preacher in Riyadh    Bollywood actor Sidharth Shukla dies at 40    Custodian of the Two Holy Mosques Directs KSrelief to Urgently Provide Malaysia with Medical, Preventive Equipment and Supplies to Address COVID-19 Pandemic    Custodian of the Two Holy Mosques Congratulates President of Maldives on Independence Day    Weather Forecast for Sunday    RSNF Commander Patronizes Ceremonial Launching of His Majesty's Ship "Jazan"    OIC Condemns Houthi Attempts to Target Civilians in Saudi Arabia    Philippines evacuates thousands as monsoon rains flood cities, provinces    Heavy rain in India triggers floods, landslides; at least 125 dead    U.S. Records 64,321 New Infections of Coronavirus    Without Fans, Tokyo Olympics Kicked Off    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    Dr. Mohammed Sulaiman Al-Jasser, Saudi Arabia's Pick to Chair IsDB Group for the next five years, unanimously approved by BoG Committee of Procedures    Saudi Press: Fitch affirms Saudi Credit Rating at "A" with a revised outlook to stable from negative    Handled Cargo at Saudi Ports Increases during June 2021    SDAIA, DARP & STC Launch Pilgrim's Smart Bracelet (NUSK)    Tabuk sculptor spends 8 years in carving entire Holy Qur'an on 30 marble slabs    2 Goals by Diaz Gives Colombia 3rd Place at Copa America    Legendary actor Dilip Kumar, 98, passes away, and with him an era    Saudi Cinema Night at Arab World Institute in Paris Kicks Off    KSU Leads Joint International Scientific Project for Early Detection of Breast Cancer    Saudi Arabia to Participate in Cannes Film Festival 2021    Arab Cup U-17 Championship Draw Saudi Arabia, Morocco, Palestine, Kuwait, in the 1st Group    AWI Hosts Saudi Cinema Nights in Paris    Brazil Beats Chile at Copa America Despite 2nd-Half Red Card    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Dar Al-Arkan in $1.2m deal to support JEF '09
Published in The Saudi Gazette on 31 - 10 - 2008

A $1.2 million exclusive partnership agreement for the 10th Jeddah Economic Forum (JEF ‘09) was signed on Thursday between Abdullatif Abdullah Alfalch, managing director of Dar Al-Arkan Real Estate Development Company, and Saleh Ali Al-Turki, chairman, Jeddah Chamber of Commerce and Industry (JCCI) at the chamber's headquarters here.
The JEF ‘09, with the theme “Globo-Presence: Future by Design,” will be held under the patronage of Makkah Governor Khaled Al-Faisal on Feb.14-17.
Al-Turki said the Jeddah business community has accepted the concept of the JEF and the philosophy and aim of holding the annual event. “They want it and the only way we can have it is if we have sponsors. We could easily pay from the chamber budget but then it defeats the purpose. As it will have little or no money left to spend on other programs,” he added.
“If we develop a product, the business community has to support it. So it is very important for them to believe in it so that the JEF could continue to be organized. One way to show that is to pay for holding it,” he said, and added that “Dar Al-Arkan is paying $1.2 million for the sponsorship. It is a lot of money, but they believe in supporting the economic gathering. It is a service to the business community and a value added service for themselves.”
“We are sponsoring this economic forum because we need to reaffirm to the local and international investors our view of the economy of the country. We strongly believe in the solid economic sustainable growth of Saudi Arabia, which has been on peak in terms of economy throughout its history,” said Alfalch. “We want to impress this upon international as well as the local market,” he added.
Asked whether in view of the international economic crisis, the JEF was experiencing any difficulty or problem, Al-Turki said for the last two months the talk in Saudi Arabia is that the Kingdom has not been affected by the crisis yet. “Our economy is very strong, our banking sector is very strong and we believe that there might be a slowdown in the economy in 2009, but as long as oil is in the range of $50 we are in good shape,” he said.
“We are not feeling any difficulty in our economy. Our stock market does not reflect the Saudi economy as such.” __

Clic here to read the story from its source.