AHSA, 17 December 2003 — Eastern Province Governor Prince Muhammad ibn Fahd, inaugurated the Ahsa Investment Forum yesterday and called upon the private sector to exploit the region’s immense resources and participate in the country’s development. The two-day forum, attended by more than 500 businessmen, is focusing on business opportunities in various sectors in the Ahsa region.
Prince Muhammad said that the economic liberalization policy had changed the country’s business environment and that many foreign investors were keen to participate in Saudi projects. He said Ahsa was one of the country’s most business friendly regions. He said the forum was an important event and would mark a new phase in the area’s industrial and commercial growth. He said that the Saudi economy was passing through a very important phase and that economic liberalization was yielding resulst. He spoke of the country’s current economic conditions which have made Saudi Arabia an attractive place for investment.
Prince Muhammad said that such forum would play a fundamental and effective role in increasing the investment in Ahsa, which will eventually have an overall impact on the Eastern Province. He called upon businessmen and investors to avail of the facilities and advantages that are being given by Saudi authorities.
Sulaiman Al-Hammad, chairman of Ahsa Chamber of Commerce and Industry, welcomed Prince Muhammad and said that during the forum, several papers covering a variety of areas and investment opportunities would be presented. The papers will also give a clear picture of Ahsa with its social, cultural and business environment.
The mayor of Ahsa, Prince Bader ibn Jiluwi said that the city was ready to provide any help and support to businessmen and companies who plan to invest. “We will provide all kinds of facilities and do away with all barriers which might impede their investment plan,” he added. Prince Bader said he was optimistic over the outcome of the forum and expected positive results as soon as businessmen were aware of the opportunities.
Ahsa area is an important part of the Eastern Province, representing 60 percent of the province’s area and 20 percent of the Kingdom’s territory. Its population is almost 1.2 million divided between five cities and more than 60 towns. It is located strategically linking Saudi Arabia with the other GCC countries.
Known as the largest oasis in the world, Ahsa gained importance for its agriculture. The region has a large number of farms but in recent years has also seen tremendous industrial growth.
City planners have succeeded in developing a well-equipped industrial city which provides a basic infrastructure. Currently there are 102 factories in the region in addition to 28,000 commercial establishments.
The region is also making strides in health and recently Second Deputy Premier and Minister of Defense and Aviation, Prince Sultan, inaugurated a specialized units kidney center and an ENT hospital in addition to laying the cornerstone of a heart specialist hospital.
