JEDDAH, 28 January — In a further attempt to boost investment relations between Germany and Saudi Arabia, the German-Saudi Arabian Liaison Office for Economic Affairs (GESALO) in cooperation with the Saudi German Development & Investment Co. will host two conferences on investment opportunities in Germany and Saudi Arabia. The theme will be "Investment Climate and Opportunities in Saudi Arabia and Germany." The conferences will be held at Jeddah Chamber of Commerce and Industry on Feb. 10 and at the Inter.Continental Hotel in Riyadh on Feb. 11. The conferences follow a series of bilateral meetings. In recent years, there have been a number of meetings and conferences concentrating on investment opportunities in both countries. An official at the GESALO office in Jeddah told Arab News: "It is a chance for increased acquaintance between us. We sense an interest in investment but also a lack of knowledge and information about rules and regulations and other related matters."
Analysts consider the upcoming conferences a follow-up to the one held in Bielefeld last September and others held by SAGECO in Saudi Arabia. The conferences represent a positive response to inquiries from groups of investors from the two countries.
Organizers hope that the conferences will boost Saudi investment in Germany and increase the number of German businesses in the Kingdom. In spite of past talks and bilateral meetings, Saudi-German trade is tilted one-third in Germany's favor. Many Saudi officials and businessmen feel that this was due to tough investment regulations existed in Saudi Arabia previously and a lack of interest on the German side. The Saudi government, however, realizing the importance and need for attracting foreign investment, created the Saudi Arabian Investment Authority (GIA) in April 2000.
GIA's Governor Prince Abdullah ibn Faisal ibn Turki will be a principal speaker at the Riyadh conference. He told Arab News that his speech would focus on the new foreign investment law. Those attending the conferences will be provided information on a number of topics with emphasis on investment opportunities and the legal framework for doing business in Germany and Saudi Arabia. Speakers will include lawyers and businessmen from both countries. Various issues, such as venture capital, private equity in Germany, special demands and legal topics will be discussed.
