SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY (SAGIA) ORGANIZED HERE TODAY THE FIRST FORUM OF ECONOMIC CITIES TITLED INTELLIGENT CITIES. ADDRESSING THE FORUM, SAGIA'S GOVERNOR AMRO AL-DABBAGH EXPRESSED HIS APPRECIATION OF AND THANKS TO THE GOVERNMENT OF THE CUSTODIAN OF THE TWO HOLY MOSQUES KING ABDULLAH BIN ABDULAZIZ AND THE CROWN PRINCE FOR THEIR UNLIMITED SUPPORT FOR INVESTMENT PROMOTION IN THE KINGDOM, POINTING TO THE LAUNCHING OF FOUR INTEGRATED ECONOMIC CITIES IN THE KINGDOM. HE NOTED THAT A STUDY IS BEING CONDUCTED TO ESTABLISH TWO ECONOMIC CITIES IN THE NORTHERN AND THE EASTERN REGIONS IN THE KINGDOM. AL-DABBAGH STRESSED THAT THE KINGDOM HAS EXTREMELY PROFITABLE AND ATTRACTIVE INVESTMENT OPPORTUNITIES IN VIEW OF ITS ECONOMIC ELEMENTS, REAL FACTORS OF INVESTMENT ATTRACTION, NATURAL RESOURCES AND STRATEGIC SITE. SAGIA'S GOVERNOR POINTED OUT THAT THE GENERAL INVESTMENT AUTHORITY ENCOURAGES ANY SAUDI OR FOREIGN INVESTOR TO SUBMIT AN ECONOMIC INVESTMENT INITIATIVE. ON HIS PART, DR. KRAIG BARET, PRESIDENT OF INTEL WORLD CORPORATION NOTED IN HIS SPEECH THAT THE GOVERNMENT OF THE KINGDOM HAS BEEN PLAYING A LEADING ROLE IN THE USE OF INFORMATION TECHNOLOGY AND PROMOTION OF THIS TECHNOLOGY IN THE SOCIETY AND THE ECONOMIC ENVIRONMENT. DR. KRAIG INDICATED THAT THE PRIVATE SECTOR AND THE GOVERNMENT ARE WORKING TOGETHER. ON HIS PART, SAGIA'S DEPUTY GOVERNOR FOR THE ECONOMIC CITIES AFFAIRS FAHD BIN ABDULMOHSIN AL-RASHID SAID THAT THE GENERAL INVESTMENT AUTHORITY HAS SET UP A BODY SPECIALIZING IN THE ECONOMIC CITIES, INDICATING THAT CONSTRUCTION IN KING ABDULLAH ECONOMIC CITY HAS BEEN CONTINUING. HE ADDED THAT THE FIRST INDUSTRIAL AREAS AND RESIDENTIAL COMPOUNDS WILL BE HANDED IN MID 2008 AND THE FIRST STAGE OF MADINAH SEAPORT WILL BE COMPLETED IN 2009. IN ANOTHER SPEECH, DR. ABDULLAH AL-RUKHAIS, PRESIDENT OF RAKISAH HOLDING COMPANY, THE MAJOR DEVELOPER OF PRINCE ABDULAZIZ BIN MUSAED ECONOMIC CITY IN HAIL SAID THAT SAGIA HAS BEEN PLAYING AN IMPORTANT ROLE IN PROMOTING AND ATTRACTING INVESTMENT.
