PRINCE SALMAN PATRONIZES GULF INDUSTRIALISTS CONFERENCE

Riyadh, October 2, 2001

PRINCE SALMAN BIN ABDULAZIZ, THE GOVERNOR OF RIYADH REGION, OPENED HERE ON TUESDAY THE 8TH CONFERENCE OF THE GULF INDUSTRIALISTS.

THE CONFERENCE IS ORGANIZED BY THE MINISTRY OF INDUSTRY AND ELECTRICITY, THE GENERAL SECRETARIAT OF THE GULF COOPERATION COUNCIL (GCC), THE GULF ORGANIZATION FOR INDUSTRIAL CONSULTATIONS, THE FEDERATION OF THE GCC CHAMBERS OF COMMERCE AND INDUSTRY, THE COUNCIL OF SAUDI CHAMBERS OF COMMERCE AND INDUSTRY AND RIYADH'S CHAMBER OF COMMERCE AND INDUSTRY.

THE TWO-DAY CONFERENCE, WHICH IS ENTITLED 'THE OPENING TOWARDS THE FOREIGN INVESTMENT: ITS EXPECTED IMPACTS ON THE INDUSTRIAL SECTOR IN THE GCC,' IS TAKING PLACE AT THE CULTURAL PALACE IN RIYADH'S DIPLOMATIC QUARTER.

IN AN ADDRESS AT THE CONFERENCE, PRINCE SALMAN SAID THAT THE OPENING OF THE INTERNATIONAL MARKETS, THE REMOVAL OF BARRIERS AND NUMEROUS PROTECTIVE MEASURES DEMAND A COMMITMENT FROM THE GCC STATES TO FORGE EXTENSIVE COOPERATION AND COORDINATION AMONG THEM.

'THIS WILL FACILITATE A COMPREHENSIVE INDUSTRIAL BOOM, CONSEQUENTLY ENSURING THE STRONG PRESENCE OF THE GCC STATES IN THE GLOBAL INDUSTRIAL ARENA,' HE ADDED.

'WHAT BRINGS COMFORT TO US IS THAT THE REGION'S COUNTRIES ARE BLESSED WITH SEVERAL POSITIVE ELEMENTS WHICH ATTRACT THE DIRECT FOREIGN INVESTMENT. IN ADDITION, THERE ARE OTHER ADVANTAGES LIKE THE STRATEGIC LOCATIONS OF THESE STATES, COMPLETION OF THEIR BASIC INFRASTRUCTURES, THE AVAILABILITY OF THE NATURAL RESOURCES AND NUMEROUS PROMISING INVESTMENT OPPORTUNITIES,' PRINCE SALMAN NOTED.

REFERRING TO THE CURRENT GLOBAL COMPETITION TO ATTRACT DIRECT FOREIGN INVESTMENT, PRINCE SALMAN SAID 'A NUMBER OF COUNTRIES HAVE IMPROVED THEIR INVESTMENT ENVIRONMENT, ADJUSTING THEIR LAWS AND OFFERING ALL FACILITIES TO INCREASE THE FLOW OF SUCH INVESTMENTS.'

HE HIGHLIGHTED THE IMPORTANT AND GREAT ACCOMPLISHMENTS OF THE KINGDOM OF SAUDI ARABIA IN THE SPHERE OF INDUSTRIALIZATION.

IN THIS REGARD, HE SAID: 'THE POLICY OF THE GOVERNMENT OF THE CUSTODIAN OF THE TWO HOLY MOSQUES HAS PLAYED A GREAT ROLE BY PROVIDING THE BASIC INFRASTRUCTURE AND OFFERING SEVERAL INCENTIVES WHICH LED TO ATTRACTING THE NATIONAL INVESTMENTS AND ENCOURAGING FOREIGN INVESTMENTS TOWARD THE INDUSTRIAL SECTOR.'

THE CONFERENCE WAS ALSO ADDRESSED BY THE SECRETARY GENERAL OFTHE GULF ORGANIZATION FOR INDUSTRIAL CONSULTATIONS, MOHAMMAD AL-MUSALAM: THE SECRETARY GENERAL OF THE ARAB GULF COOPERATION COUNCIL (GCC), JAMEEL BIN IBRAHIM AL-HUJEILAN AND THE MINISTER OF INDUSTRY AND ELECTRICITY, DR. HASHIM BIN ABDULLAH YAMANI.

AT THE END OF THE SPEECHES CEREMONY, PRINCE SALMAN INAUGURATED AN EXHIBITION, WHICH WAS ORGANIZED ON THE FRINGES OF THE CONFERENCE.

THE GOVERNOR TOURED VARIOUS SECTIONS OF THE EXHIBITION. A LARGE NUMBER OF NATIONAL COMPANIES AND SEVERAL GULF INDUSTRIAL ORGANIZATIONS ARE PARTICIPATING IN THE CONFERENCE.

THE OPENING CEREMONY OF THE CONFERENCE WAS ATTENDED BY A NUMBER OF CABINET MINISTERS, SENIOR OFFICIALS AND INDUSTRIALISTS.

THE CONFERENCE PROGRAM INCLUDES IN-DEPTH REVIEWS OF A NUMBER OF PAPERS FROM DIFFERENT BODIES AND ORGANIZATIONS.

THESE PAPERS DEAL WITH THE EXPERIENCES OF SOME GCC COUNTRIES, EGYPT, SOUTH KOREA, MALAYSIA AND THE OTHER RELATED ORGANIZATIONS IN ATTRACTING DIRECT FOREIGN INVESTMENTS TOWARD THE INDUSTRIAL SECTOR.