Saudi Officials highlight advantages for foreign investors

Riyadh, January 26, SPA -- Prince Saud bin Abdullah bin Thinayyan Al
Saud, Chairman of the Royal Commission for Jubail and Yanbu and
Chairman of Board of Directors of Saudi Arabian Basic Industries
Corporation (SABIC) has affirmed that investment in the Kingdom of
Saudi Arabia has advantages for foreign investors as the effect of
the global financial crisis on the Kingdom has been less than other
countries.


In a statement on the sidelines of the Third Global Competitiveness
Forum opened in Riyadh last night, the Prince said, "This does not
mean that the Kingdom of Saudi Arabia has not been affected, as the
Kingdom is part of the world; but the damage has been relatively
less."


He added that this gathering of economic experts and presidents of
major companies proves that the Saudi economy is well and that the
Kingdom has been able to attract substantial investments, pointing
out that investment will be increased as Saudi Arabia compared with
other countries, has been less affected by the global financial
crisis.


As regards the international credit rating of SABIC, the Prince said
that the stability of the evaluation at the same rank shows that the
economic position of the company is very good, adding that SABIC in
comparison with global major corporations is considered less affected
by the global financial crisis as a result of diversification of its
investments.