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RAKISA highlights Hail Economic City’s economic potential for Chinese and international investors at the 10th Annual CEO Forum in Beijing

Saudi Arabia: Saturday, November 04 - 2006 @ 12:57

The CEO Forum, BusinessWeek’s flagship event in Asia, is being organised in strategic partnership with the Saudi Arabian General Investment Authority (SAGIA) and with the support of RAKISA. The Authority is the apex body responsible for inward investments into Saudi Arabia and supervises the investment consortium that is developing Hail Economic City. RAKISA heads the consortium made up of companies from Saudi Arabia, Kuwait, Bahrain and the UAE.

Engineer Abdullah Ibrahim Al-Rakhis, Chairman of RAKISA Holding, Saudi Arabia was one of the featured speakers at the event which is being co-hosted by China’s State Council Information Office to coincide with the 20th anniversary of BusinessWeek China. Held on the theme “Delivering the Winning Edge: Driving Innovation, Managing Disruption”, the three-day Forum hosts some of the world’s leading chief executives to speak on strategies for successful leadership.

Addressing the Forum, Al-Rakhis said:

“Prince AbdulAziz bin Mousaed Economic City is envisaged to be the Middle East’s largest logistics and transportation hub. This integrated project offers international investors and entrepreneurs immense opportunities for making profitable capital investments with assured high returns or for starting business and industrial ventures.”

“Investors and companies participating in the consortium will be provided all necessary assistance, guidance and facilities by the project’s developer and SAGIA in identifying feasible projects and building ventures in diverse sectors ranging from infrastructure and housing to petrochemicals, agro-processing, mining, education, entertainment and tourism,” he said.

“The City is being built in the kingdom’s strategically located, fertile and mineral-rich northern province of Hail and is backed by the kingdom’s excellent infrastructure, liberal investment policies and stable economy. These conditions provide an ideal investment climate and make Hail Economic City one of the most attractive investment destinations in Saudi Arabia today,” Al-Rakhis added.

During its exhibition that took place during forum and with the attendance of His Excellency Amr Abdullah Al-Dabbagh; Governor of SAGIA, RAKISA launched the “360 degrees investment opportunities program”, which provides investors with profiles for around 360 investment opportunities that Hail Economic City offers.

Proposed to be developed entirely with private funds over a period of ten years, Hail Economic City is envisaged as an integrated commerce and industry hub stretching across 156 million square metres of land in the kingdom’s north. Once complete, the project will boast an international airport, rail link, dry port and operations centre, and a supply chain centre within the logistics zone. Hail Economic City is projected to generate employment for 55,000 people and contribute to the doubling of Hail’s GDP in the next decade.

RAKISA is a regional investment holding company that invests and structures strategic, innovative and emerging mega opportunities. The company has led, initiated and/or participated in more than US$ 4 billion (SR15 billion) investments besides helping to generate revenues of more than US$ 6 billion (SR 22.5 billion) and over 60,000 jobs in the past decade.

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Saturday, November 4- 2006 @ 12:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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