Investment Conference in
Nov 7, SPA -- A
Conference on Investments in the Kingdom of Saudi Arabia, organized by Middle
East Economic Digest (MEED), was inaugurated here on Tuesday.
Speaking on the occasion, Chairman of the Conference and
MEED's Editor-in-Chief Edmond O'Sullivan, said the organization of the
conference aims at enhancing understanding between the Kingdom of Saudi Arabia
and Britain as well as between Islam and the West.
He noted the economy of the Kingdom of Saudi Arabia, which has
the largest reserve of crude oil in the world in addition to vast quantities of
gas and other mineral resources, is strong and steadily growing.
O'Sullivan pointed out that the Kingdom of Saudi Arabia
constitutes the biggest market for Britain and the other Western countries
outside the Countries of the Development and Cooperation Organization.
”More than 30,000 Britons are currently residing in the
Kingdom of Saudi Arabia”, he said
The conference is attended by 21 speakers, who represent the
businessmen economists and experts from the Kingdom of Saudi Arabia, Britain and
other countries, notably Prince Abdullah bin Faisal bin Turki, the
Governor of the General Investment Commission.
Speaking on the occasion, Prince Abdullah bin Faisal bin
reiterated the opposition of the Kingdom to all forms of terrorism
He noted that the Kingdom which enjoys political stability, a
stable currency and a low rate of economic inflation, is a suitable place for
He noted that the Kingdom's national gross product (GNP)
amounted in 2000 to $185.3 billion
Prince Abdullah bin Faisal said the Kingdom has been
maintaining excellent relations with the most important economic powers in the
world as well as with the Arab, Muslim and Asian countries.--SPA