Eng. Abdullatif bin Ahmad Al-Othman, Governor of the Saudi Arabian General Investment Authority (SAGIA), stressed that his visit to the Dammam Second Industrial City accompanying with Dr. Tawfiq Al-Rabiah, Minister of Commerce and Industry, is an extension of cooperation and coordination between the SAGIA and the Ministry of Industry in supporting and following up investment projects in the industrial sector. In a statement to Saudi Press Agency (SPA), he pointed out that investment in the industry achieves many benefits and advantages, "it is a strategic choice in the Kingdom due to its important and pivotal role in achieving the developmental objectives and plans of the state," he added. "The industrial sector contributes to provision of direct and indirect quality work opportunities attracting all Saudi young and qualified cadres in addition to contributions of the industry in transferring technology, growing exports and other positives in the service of development plans," Eng. Al-Othman said. Regarding the most important licensed industrial projects under the Foreign Investment Law, Al-Othman said: "In fact, we do not differentiate between local or foreign investment in the industry or even in the other service sectors, such as health, transport or tourism, information technology sectors and others. But we always look to the quality of investment in terms of its impact and its contribution to the economy, whether a large or small investment in terms of capital size. All are given support, facilitations and incentives. The industrial lands, funding, customs exemptions and the right of ownership of the project with 100% are available for local and foreign investor," he stressed. Eng. Al-Othman confirmed that this what distinguished the Kingdom's investment climate and regulations compared to other regional and global countries. --More 23:08 LOCAL TIME 20:08 GMT تغريد
