Tony Blair, former British prime minister and special envoy of the international quartet on the Mideast peace process, on Sunday praised the “amazing vision” of the Saudi Arabian General Investment Authority (SAGIA). Amr Al-Dabbagh, the SAGIA chief, briefed the visiting dignitary on his organization's investment strategy. Blair said it makes great sense for Western countries and companies to invest in the Economic Cities given their value proposition, especially now during the present global economic recession.The former British prime minister spent more than an hour with the SAGIA chief and his executive team, as several members outlined the overall strategic value of the cities, and how the various components of each will set global standards for competitiveness. SAGIA is a service entity aiming to provide services and facilities to promote investment and economic development in the Kingdom. SAGIA was established in April 2000 under the directives of the Supreme Economic Council (SEC) as a catalyst to promote inward investments, facilitate exchange of best practice between the public and private sectors, as well as act as an intermediary between the global business community and the Saudi government and its ministries and agencies. It also aims to contribute to economic policy-making substantiated by research and strategic criteria. __
