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Your Royal Highness, could you comment on the opportunities
that will arise thanks to the proposed accession of Saudi
Arabia to the WTO [World Trade Organisation]?
As members of the WTO, there will be a greater freedom to
invest in the Kingdom. There are many advantages which will
arise, and I am sure that the business community is preparing
for such a change in the economic landscape.
What incentives are in place for foreign investors?
We are opening up the gas sector to foreign investment, which
was previously an area that was limited to state-owned corporations.
Recently a major contract was signed for the development of
Saudi Arabia's huge gas reserves, and last week the Minister
of Petroleum presented a list of new projects for gas exploration,
open to all foreign multinationals who might be interested
in investing in the Kingdom.
Such a step represents a huge perspective for international
companies in a country like ours which sits on major gas reserves.
Does tourism also represent certain investment opportunities?
Yes, tourism is a sector which is highly active, and we are
pursuing new avenues towards its development. We have adopted
a vigorous promotional program, while taking a mature and
cautious route towards its development.
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As a final message, how would you encourage our readers
to take a further interest in Saudi Arabia?
There are numerous websites that can offer a great deal of
information on the business opportunities in Saudi Arabia.
The Saudi Arabian General Investment Authority is an entity
that was formed three years ago to encourage investment, which
is available at http://www.sagia.gov.sa/
The Chamber of Commerce has a website which publishes major
business activities on a regular basis, encouraging companies
to participate and join together in various new ventures.
It can be accessed at http://www.saudichambers.org.sa/
Our goal is to actively use the Internet to inform potential
investors about new investment opportunities in Saudi Arabia.
Thank you.
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