The governor was speaking at the launch of a US company, MMC, in Riyadh.
“Don’t tell your clients what they want to hear, tell them the real status of their business. Be a sincere friend to the nation as well as to your own client,” he said at the Faisaliah Hotel.
He stressed that consultants must realize, appreciate and strongly believe in operationalizing their ideas for the benefit of their customers since they bring in a wealth of experience in the financial and other sectors.
“We do not want abstract ideas, but they should be implemented properly for the good of the nation,” he said, stressing that the consultant firms should know their mission well in the Kingdom.
“We are an emerging economy and we expect value added services from such firms,” he noted.
Al-Jasser pointed out that the Kingdom successfully overcame the recent financial crisis due to prudent economic planning although it was conservative by nature.
“When we implemented them (the economic measures), we did not escape criticism, but now we are getting commendations from both the local and the international community for our success in emerging from the crisis.”
Explaining the reasons for the success from the financial crisis, the governor said that the Kingdom fully understood the economic slowdown and managed the financial sector well.
“There were two attributes to our approach toward the problem — managerial prudence and regulatory and supervisory prudence.
The two cannot substitute each other but they are complementary to each other, said Al-Jasser. “We stuck to the basics,” he added.
In his brief speech, MMC Senior Vice President David Frediani said: “We are bringing together these three strong, successful firms under one roof with one common objective to serve and support Saudi organizations that want to grow and prosper. Only when our clients are successful in their businesses and see the value that we bring to that success, will we be successful.
“We have long harbored the desire to bring our other businesses into this market to back up and grow the work that Marsh has undertaken. It is a sign of our long term confidence that we are prepared to do this on such a scale at a time of some global uncertainty.”
Frediani said that MMC would also concentrate on developing local human resources. “ We will help Saudi youths to get proper overseas training in our offices and help them adapt themselves to the local needs.”
Amer M. Kayani, minister counselor for Commercial Affairs of the US Embassy said his country enjoys a deep strategic partnership with the Kingdom.
He pointed out that the United States is the largest single country trade partner to the Kingdom, enjoying a bilateral trade of $33 billion.
