2003 News Story

Riyadh Economic Forum focuses on sustainable development

The three-day Riyadh Economic Forum on the topic 'Towards Sustainable Economic Development' organized by the Riyadh Chamber of Commerce and Industry was inaugurated yesterday by the Chairman of its Board of Directors Abdulrahman bin Ali Al-Jeraisy. Addressing the Forum, Governor of the Saudi Arabian General Investment Authority (SAGIA) Prince Abdullah bin Faisal bin Turki referred to investment as the primary engine for moving the wheel of economic development, and pointed out that diversification of sources of income is one of the main objectives of the Saudi five-year development plans.

The Forum aims at identifying strategic economic problems as well as projecting the pioneering role of the private sector in the process of economic development. It will extend support to the Government's efforts to reform the Saudi economy and remove obstacles that impede the path of sustainable economic development. Focusing on human resources as well as infrastructure projects and government systems, policies and procedures, it will investigate the problems that face businesses, large and small. It will discuss cooperation between the private and public sectors in the formulation of the development plans; the policy of privatization; development of government financing institutions; and the role of Saudi women in economic activities. The Forum will also discuss problems related to education, training and rehabilitation and the role of the private sector in this respect.