Al-Assaf said that the government agencies would take note of the recommendations made by the high-profile Riyadh Economic Forum (REF) to achieve the goals of development.
After inaugurating the REF on behalf of Custodian of the Two Holy Mosques King Abdullah here Saturday night, the finance minister said: “The three-day REF will focus on the new challenges facing the Saudi economy.”
He added: “The Saudi government agencies have been exerting efforts for all round economic and social development, which is evident from the healthy economy of the nation.”
In fact, the absence of clear planning pattern for regional development led to some gaps in term of regional development, variation in income levels and social welfare in different regions, according to the papers presented during the inaugural session.
The industrial sector indicators for example reveal that Riyadh tops in terms of the number of factories representing some 88 percent of the total manufacturing units of the country.
Al-Assaf said that the support extended by King Abdullah symbolizes the importance of the forum.
More than 1,000 economists are expected to participate in the fifth REF, said Abdulrahman Al-Jeraisy, chairman of the Riyadh Chamber of Commerce and Industry (RCCI).
One of the forum’s sponsors is the Saudi Research & Marketing Group, represented by Azzam Al-Dakhil, who received the plaque of honor on behalf of SRMG.
Referring to the deliberations at the forum, Saad Al-Mojel, REF’s chief of the organizing committee, pointed out that the forum’s five major studies focus on inter-city transportation, vocational training, development requirements for manpower, food security based on local agriculture, importing and investing abroad, evaluating investment in the Kingdom and balanced development in different provinces of the country.
