2007 News Story

New investment company established

Minister of Commerce and Industry Hashem Yamani has approved the establishment of a new investment and securities company. The Riyadh-based Watan Company will have an initial capital of $72 million, and will be managed by a three-member board of directors.

The establishment of the Watan Company is in line with the Kingdom’s efforts to broaden its economic base and enable the private sector to play an effective role in Saudi economic development.