JEDDAH, 17 December 2006 — The Saudi government plans to establish two more economic cities in the north and east of the Kingdom as part of its efforts to achieve balanced development all over the country, according to Amr Al-Dabbagh, head of the Saudi Arabian General Investment Authority (SAGIA).
Addressing a forum on smart cities organized by SAGIA in Riyadh, he said the four economic cities launched by Custodian of the Two Holy Mosques King Abdullah in Rabigh, Hail, Madinah and Jizan offered lucrative investment opportunities in tens of giant projects.
“Studies are under way to establish two new economic cities in the Northern and Eastern regions,” the SAGIA chief told the forum. He said the economic city projects, initiated by his organization, was receiving tremendous support from the government. The four economic cities are expected to draw investment worth nearly SR300 billion ($80 billion).
“SAGIA encourages every Saudi and foreign investor who comes forward with an excellent investment initiative that conforms to its strategy and serves the Kingdom’s development plan,” he said while delivering his keynote opening address.
Intel Chairman Craig Barrett, Abdullah Ibrahim Al-Rakhis, chairman of Rakisa Holding, and Fahd ibn Abdul Mohsen Al-Rasheed, deputy governor of SAGIA for economic cities, also spoke on different topics. He emphasized the private sector’s role in financing infrastructure projects at economic cities. “The government will not bear any financial burden in this regard.”
In his speech, Intel Chairman Barret emphasized the growing investment opportunities in information technology. He also noted the pioneering role being played by the Saudi government in using and encouraging this technology, the Saudi Press Agency said.
Intel to Train 50,000 Saudi Teachers
As part of its ongoing commitment to Saudi Arabia, Intel Corporation yesterday announced plans to increase efforts in extending the reach of technology to benefit the country’s students.
“Education is the foundation for leadership in today’s knowledge-based global economy,” said Barret, who also chairs the UN Global Alliance for Information and Communication Technologies and Development.
Intel and the Saudi Ministry of Education said they would train more than 50,000 Saudi teachers on the application of technology to improve classroom learning. Approximately 1.5 million students are expected to benefit from the Intel Teach Essential Program over the next three years.
Intel and the ministry also signed a memorandum of understanding for Intel to act as a technical consultant to the ministry.