An economic conference was held here today by the British Middle East Association to highlight investment opportunities in the Kingdom of Saudi Arabia. The one-day event was attended by a host of senior officials, businessmen, economists and investors from both the Kingdom of Saudi Arabia and the United Kingdom. British former Minister of State for Middle East Baroness Simons of Perham hailed the Saudi British relations based on understanding and mutual respect. Simons of Perham, who is currently Chairwoman of the Saudi British Joint Commercial Council, said the Kingdom of Saudi Arabia plays an important and constructive role at the international arena and had a loud voice in the recently-concluded G 20 conferences in London and Pittsburgh. Speaking about the bilateral cooperation between the two kingdoms, she cited the increasing number of Saudis on scholarships in Britain. She estimated the number of Britons visiting Saudi Arabia annually on religious or economic trips at more than 100,000. The high degree of security and stability enjoyed by Saudi Arabia contributed to the steady progress of development porcess in the Arab country, thanks to the prudent policy of the Saudi leadership, she added. She predicted that the Kingdom of Saudi Arabia would come among the world's ten economies that would achieve high economic growth this year. The Kingdom of Saudi Arabia is the first in the Middle East to attract foreign investment capitals and the world's 23rd strongest economy, thanks to the attracting investment regulations, strength of economy, numerous mineral resources, strength of local currency, flow of foreign revenues as well as its strategic location in the region, the former Barones said. She advised British businessmen and investors to benefit from the abundant investment projects currently promoted in the Kingdom of Saudi Arabia. --More
