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Investment Conference in London

London, 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 Turki 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 investments

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



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