Nineteen manufacturers and two engineering companies expressed their intent to set up manufacturing or a local presence in Saudi Arabia after a two-day meeting here to discuss trade, commercial and investment relations between Saudi Arabia and the Netherlands. Waleed A. ElKhereiji, Saudi Arabia's ambassador to the Netherlands, and Nicolaas Beets, of the Dutch Embassy in Saudi Arabia, invited more than 100 Dutch and Saudi oil and gas sector suppliers, manufacturers and service providers to the headquarters of host "ABN AMRO" for Gateway 2006. The event was sponsored by the Dutch and Saudi Embassies, ABN AMRO/Saudi Hollandi Bank and Saudi Aramco, according to a press released issued yesterday. After an introduction by Beets, the Dutch delegates, representing leading Dutch oil and gas industry suppliers, heard about business opportunities in the Kingdom. According to the Saudi Arabia General Investment Authority (SAGIA), investment opportunities are worth $624 billion in sectors such as petrochemicals, natural gas, tourism, desalination, power generation and railways. Abdul-Wahab A. Al-Sa'adoon, director general of SAGIA, said the Saudi government has created a positive environment for investment and business in Saudi Arabia's energy sector. Brad Bourland, chief economist of the SAMBA financial group, explained why the Saudi economic boom is attractive for Dutch businesses. --MORE
