1998 News Story

Crown Prince Abdullah thanks commercial sector

Crown Prince Abdullah Ibn Abdul Aziz, Deputy Prime Minister and Commander of the National Guard, today expressed his thanks and appreciation to Commerce Minister Osama Ibn Jaafar Al-Faqih, to the head of the Council of Saudi Chambers of Commerce, to the heads of the boards of the Saudi Chambers of Commerce and Industry, and to their members and staff, for the tremendous efforts they have made to implement the plans adopted by the Government of Custodian of the Two Holy Mosques King Fahd Ibn Abdul Aziz in order to establish a developed industrial base that can strengthen the national economy as well as contributing to the expansion of the Kingdom's productive base. The Crown Prince had earlier been informed by Minister Al-Faqih that the government's support to the private sector had increased its contribution to the Gross National Product by 46.7 in fixed prices with a growth rate in 1997 of 4.1 percent. The 1997 export value of non-oil products rose to SR 27.8 billion (U.S. $ 7.4 billion) out of a total of SR 207 billion (U.S. $ 55.2 billion).