The Saudi Indian Business Network (SIBN), a forum of Indian-Saudi businessmen, entrepreneurs and senior executives, has called for the strengthening of bilateral investments in both countries. In a meeting held at Jeddah Hilton Sunday, Hasan Ghias, Vice President of the outgoing Executive Committee of SIBN gave account of activities performed by SIBN since its inception in 2005. He reiterated SIBN's objective of creating business and investment opportunities for the business community in the two countries. Dr. Madani A. Alaki, former minister of State and cabinet member and Director of Al- Shuqaiq Power and Water, highlighted the contribution of the Indian manpower in the development of Saudi Arabia. He cited opportunities for investment in the Kingdom, particularly in power & water sector. Sheikh Adil Bushnaq spoke about his successfulinvestment in India in water desalination plants and other water-related projects. He underlined huge investment opportunities in India in the sector. Ishtiaq Ali, partner of Classis law firm, Mumbai, attributed India's GDP growth to the opening up of the Indian economy in 1991. He identified areas of investments in India like infrastructure, power, telecomm, etc. He encouraged foreigners to invest in India and avail of the country's simple and transparent investment rules. Siraj Qureshi, well known businessman in India and Saudi Arabia and President, India Islamic Cultural Centre in New Delhi, shared his experiences of doing business in Saudi Arabia for the last 30 years. He called on Indian businessmen to take initiatives to do business in Saudi Arabia. Shakeel Ahmad, Commercial & Culture Consul, welcomed the participants and briefed them on business and investment facilities and services being offered by the Consulate to promote bilateral business and investment. It was the first meeting of SIBN since 2008.
