1997 News Story

SCH signs agreement with UNIDO

The Saudi Consulting House (SCH) has signed an agreement with the United Nations Industrial Development Organization (UNIDO) in a move aimed at stimulating foreign and domestic investments in the Kingdom.  The agreement will provide input on how to deal with investment proposals, carry out financial and economic analyses, and supply investors with the information they need.

Currently, joint ventures in the Kingdom number about 340, with the U.S. as the biggest participant.  They account for roughly 12 percent of the total number of industrial plants (around 2,750), and the cumulative capital invested in them amounts to SR 88.5 billion (U.S. $ 23.5 billion).   In the beginning, the agreement will allow SCH to be linked to UNIDO investment promotion offices in some 15 developing countries and gain access to UNIDO data bases.  UNIDO will also undertake completion of foundation, training and survey programs.  SHC has announced that after the training program, it will start to provide free services to investors.