THE MAYOR OF LONDON FOR MONEY AND BUSINESS SECTOR LORD ALDERMAN JOHN STUTARD OPENED HERE TODAY THE JOINT ECONOMIC AND INVESTMENT CONFERENCE FOR BUSINESSMEN IN LONDON CITY AND THEIR COUNTERPARTS IN THE GULF COOPERATION COUNCIL (GCC) COUNTRIES. IN A SPEECH, LORD ALDERMAN LAUDED THE ECONOMIC STRENGTH ENJOYED BY THE GCC COUNTRIES, ESPECIALLY THE KINGDOM OF SAUDI ARABIA. HE SAID THAT THE GOVERNMENT OF THE CUSTODIAN OF THE TWO HOLY MOSQUES KING ABDULLAH BIN ABDULAZIZ PAYS CONSIDERABLE ATTENTION TO BUILDING ECONOMIC AND INDUSTRIAL CITIES AND CENTERS IN THE KINGDOM IN ORDER TO DIVERSIFY ECONOMY SOURCES INSTEAD OF ENTIRELY RELYING ON OIL. LORD ALDERMAN URGED BRITISH INVESTORS AND BUSINESSMEN TO INCREASE THEIR INVESTMENTS IN JOINT PROJECTS IN THE KINGDOM AND GULF STATES, CONSIDERING THAT THE INVESTMENT RETURNS IN THESE OIL AND GAS RICH COUNTRIES ARE VERY PROMISING. HE ALSO POINTED OUT THAT THE TREASURY DEPARTMENT, WHICH WAS CHAIRED BY THE NEW BRITISH PRIME MINISTER GORDON BROWN, ENCOURAGES FINANCIAL INVESTMENTS IN ACCORDANCE WITH ISLAMIC LAW IN BRITAIN. THE ONE DAY CONFERENCE IS SCHEDULED TO BE CONCLUDE BY A SPEECH OF FORMER BRITISH MINISTER OF STATE FOR THE MIDDLE EAST AND NORTH AFRICA BARONESS SIMONS AND A SPEECH OF THE DIRECTOR GENERAL OF BRITISH MIDDLE EAST SOCIETY MICHAEL THOMAS. THE CONFERENCE WAS ATTENDED BY MORE THAN 200 FIGURES FROM BRITISH AND GCC BUSINESSMEN IN ADDITION TO INVESTMENT EXPERTS IN A NUMBER OF BRITISH BANKS AND FINANCIAL ESTABLISHMENTS.
