The conference on "Investment Opportunities in the Kingdom of Saudi Arabia," concluded its deliberations here yesterday in the presence of Prince Mohammad bin Fahd bin Abdulaziz, Governor of Eastern Province and Prince Mohammad Bin Nawaf Bin Abdulaziz, theAmbassador of the Kingdom of Saudi Arabia to Britain and Ireland. A large number of economists and businessmen from Saudi Arabia, Britain and Europe attended the conference, which was organized by The Middle East Economic Digest (MEED) and "BMG" Establishment for Investment and Financial Consultations. In an address at the final session, Prince Mohammad bin Fahd expressed his pleasure to participate in such an occasion, pointing out to the special relations between Saudi Arabia and Britain that started more than a half century ago. He noted Saudi Arabia's keenness to develop its industry in order to diversify its income sources and lessen its national economy's sole dependence on oil. Prince Mohammad bin Fahd affirmed that Saudi Arabia has sought to create investment opportunities in several fields and Britain's share in this regard is represented in Al-Yamama Economic Offset Project, which is considered unique for the transfer of technology. "This project was started in 1989, which positively contributed to importing high-level technology for the Saudi industrial development. He said that the commercial exchange between the two countries amounted to 3.4 billion sterling pounds, pointing out that Britain is the biggest market for Saudi non-oil products. "Moreover, this occasion provides a suitable advantage to explore more investment opportunities, increase economic cooperation and commercial exchange in addition to utilizing the Saudi economic growth." --MORE 21/06/2006 13:32 ت م
