QASSIM, 1 June 2008 — Qassim Gov. Prince Faisal ibn Bandar and his deputy Prince Faisal ibn Misha’al, chairman of the Committee for the Development of Investment in the Qassim Region, reviewed here recently the business plan of Qassim Development Company (QDC).
The company is currently being established as part of a comprehensive and integrated strategy to develop investments in the Qassim Region.
At the meeting, which was chaired by Prince Faisal, a series of important topics related to the formation of QDC were discussed.
Issues discussed included identification of the target development sectors, formation of an ‘Investment Council’ for the region, the establishment of QDC as a holding company to manage the establishment and the development and management of key companies specializing in mega development projects in the region.
QDC CEO and Chairman of the Founding Committee, Mujahid Al-Gain, said he was delighted that the Qassim Region was entering the development phase.
“I take this opportunity to thank the governor for adopting and supporting this very important initiative which coincides with the Kingdom’s economic developments.
“I would also like to thank Amr Dabbagh, governor of the Saudi Arabian General Investment Authority, for his continuous support for taking this project from concept to reality.”
He added, “Establishing QDC as a holding company is a pivotal project, which aims at jumpstarting and serving many development projects in the region as a whole.
This idea was conceived after extensive studies and research lasting well over 20 months to identify the investment environment available in the region.
This study was conducted by leading global firms as well as local experts and members of the Qassim Region with the guidance and support of the Governor of Qassim and his deputy.
The study led to the key recommendation to establish a holding company to develop and manage mega development projects in the Qassim Region.