Governor of Makkah Province Prince Abdulmajeed bin Abdulaziz today opened Jeddah's International Economic Forum for 2001, which is being attended by a number of foreign dignitaries including former German Chancellor Helmut Kohl, and former President of France Valery Giscard d'Estaing.
Speaking on the occasion, Chairman of the Board of the Jeddah Marketing Council Omer Al-Dabbagh observed that the forum offers opportunities for foreign investors as well as Saudi businessmen, pointing out that the Arab world possesses all requirements for development. In his address, Governor of the Saudi Arabian General Investment Authority (SAGIA) Prince Abdullah bin Faisal bin Turki explained how SAGIA had been formed last year to deal with issues pertaining to investments and to improve the investment climate in the Kingdom. At a press conference following the opening, Prince Abdullah spoke of the effectiveness of direct investment in the economy, setting up new jobs and raising the standard of living of all citizens. He stressed the strength of the Saudi economy and the success achieved by the private sector, noting that SAGIA had begun the placing of controls and measures to ensure the success of foreign investment in the Kingdom.