Crown Prince Abdullah bin Abdulaziz, the Deputy Premier and Commander of the National Guard, who is also the Head of the Supreme Economic Council, has approved recommendations submitted by the standing committee of the Supreme Economic Council pertaining to a report prepared by the Saudi Arabian General Investment Authority (SAGIA). The report included 17 agreements between SAGIA and the governmental authorities concerned with investment. Crown Prince Abdullah has ordered SAGIA to work in cooperation with the concerned authorities for the implementation of the mentioned agreements and to submit reports in this respect every three months. Amr Al-Dabbagh, the Governor of SAGIA, meanwhile, said the agreements aimed at improving the investment environment and formulation of means of solving all problems that may face the investment sectors, notably the industrial sector. He noted that the agreements included incentives to the Saudi and non-Saudi investors. SAGIA has taken steps to activate its decisions including enhancing cooperation with the World Bank and the research center at King Abdulaziz University for evaluating the environment of the local and foreign investments.
