Bravo and SAGIA sign agreement to support the governmental and business sectors in economic cities

Notes and media contacts

About Public Telecommunications Company (Bravo):
With a paid-up capital of SAR200m, the Public Telecommunications Company (PTC) 'Bravo' was established on 31 October 2001 and launched its services in Saudi Arabia in mid-2005, as the sole licensed provider of wireless communication services using the world class Integrated Digital Enhanced Network (iDEN) technology, which was developed by the world-renowned vendor of wireless technologies, Motorola.

Bravo operates under a license from the Saudi Telecommunications Company (STC). This all-in-one communication device provides superior sound and transmission quality and instantly enables crisp and clear high quality voice communication, whilst ensuring privacy and increased security. Speaking one-to-one or one-to-many, Bravo customers uniquely find combined in one handset a digital two-way Walkie-Talkie radio, a mobile telephone, as well SMS, GPS and Data capability.

About Saudi Arabia General Investment Authority (SAGIA):
Established in April 2000, SAGIA 's vision is to act as a gateway to investment in Saudi Arabia. SAGIA seeks to attract sufficient investment to achieve sustainable rapid economic growth while capitalizing on the Kingdom's competitive strengths as the global capital of energy, and as a major hub between East and West. SAGIA's mission is to position Saudi Arabia among the top ten most competitive nations by 2010 through the creation of a pro-business environment and a knowledge-based society while putting forth its best effort to make Saudi Arabia a favorable investment destination in the region and throughout world.

Six core roles maximize SAGIA's impact on Saudi economics and investor interests:

Investor Services:
SAGIA will provide comprehensive licensing and support services to investors while establishing their businesses. In addition, SAGIA will become the investor's Information Clearinghouse, serving as a central repository of information regarding business in the country including key economic news and indicator reports, competitiveness studies, general statistics and economic research, and the country's laws & regulations.

Marketing & Promotion:
SAGIA will identify opportunities that are linked to the country's competitive advantages and match them to investors that fit a complimentary strategic, risk, and financial profile. While working in conjunction with sponsoring organizations, SAGIA will cooperate to effectively market any industries, organizations, or individual opportunities in a targeted manner to maximize impact.

Regional Development:
SAGIA will cooperate with regional authorities to create region-specific investment promotion plans and strategies that leverage each region's key strengths for that region's developmental benefit. Specific measures include designing promotional tool kits & training programs. Regional development is important to achieve balanced economic development nationally and prevent emigration of human and other resources from lesser-developed areas of the country to urban centers. For example, developing Haqil on the northern coast of Aqaba in the Northwest of Saudi Arabia will make it a launch pad for exports to Jordan, Syria, Lebanon, and North Africa. Concentrating on Yanbu, Jeddah, Rabigh and Jizan would connect the Yemeni and African markets to Saudi. On the east coast, Dammam and Jubail would serve the GCC, North Middle East, the Indian sub-continent, and Asia. Using the country's geography to establish an extensive distribution network would optimize the connections between the region's market of 250 million people and the global economy.

Start-Up Stimulation:
SAGIA will support the Centennial Fund, a national foundation dedicated to funding Saudi entrepreneurs. SAGIA's support will encompass facilitation and screening of applications along with provision of full transactional support to selected applicants. The fund will provide financial and mentoring support. SAGIA strongly believes in promoting the entrepreneurial spirit. Integrating newly minted entrepreneurs into the business community will result in future socio-economic benefits. The companies they build will generate job opportunities, foster economic creativity, and serve as a positive example to a new generation.

Sectoral Focus:
While providing services to investors in all sectors of the Saudi economy, SAGIA plans to focus on three sectors: Energy, Transportation, and Information & Communications Technology (ICT). SAGIA will target these sectors because they have not realized their full economic potential, they embody an overwhelming competitive advantage, they enable other industries to develop, and they have a multiplier effect on economic expansion.

Energy:
SAGIA's work in Energy will take its broadest international classification and include downstream industries such as petrochemicals, water & electricity, and energy-intensive industries such as minerals.

Creating a Pro-Business Environment:
SAGIA will cooperate with other government agencies and private sector organizations to improve the country's business laws and policies according to international best practices so that a healthy investment environment develops and continues. The ever increasing globalized economy necessitates that Saudi Arabia's business climate be attractive and competitive. As a start, in August 2004, SAGIA (1) updated its list of policies and procedures that require revision, (2) compared the country's practices to its benchmarked countries, and (3) is now cooperating with relevant government authorities on procedural improvements.


For more information, please contact:
Hani Al-Khalifa
Sr. Manager of Marketing Communications
Bravo
Riyadh, KSA
Tel: +966 1 4552299 (Ext. 1615)
Fax: +966 1 4557744 (Ext. 1119)