CPC calls for more financial and funding institutes in Saudi Arabia to support local projects

Speaking at the forum, Alaquil expressed his gratitude to the organizers of the Conference, and talked about the role of finance in industrial investment, and said:

"The 3rd Saudi International Banking & Investment Conference has been held a mid difficult global economic conditions, however, the policies of the Custodian of the Two Holy Mosques, King Abdullah bin Abdul Aziz, may God protect him, are very keen to encourage investment and support the private sector to be a strategic partner in the development process, as well as granting investment opportunities in Saudi Arabia for local and foreign investors."

He further pointed out that Saudi Arabia has all basic investment tools such as energy and raw materials, in addition to the establishment of industrial zones and integrated economic cities.

Dr. Alaquil expressed the pleasure of CPC for their participation in the Conference, which comes in the framework of its long-term objectives, particularly in the industrial field.

Dr. Alaquil stressed on the importance of supporting the private sector by financial authorities, ministries and relevant agencies, in addition to local banks that support investment, projects and entice investors to take advantage of their savings.

Furthermore, he pointed out to the challenges of the current financial crisis which showed how fragile are the economies of some countries.

He stressed that investors should look for secured and stable places and study deeply the policies of countries opened for investments, they, as well, must thoroughly study investment opportunities to ensure that they will get the best investment opportunities.

Further, Dr. Alaquil pointed out that there are large investment opportunities in the Middle East and North Africa, and such opportunities will support the return of Arab capitals to invest in the region, adding that CPC activities started in Saudi Arabia, and by God grace, and through their various projects they managed to export their successful experience to many Middle East and North African countries, such as UAE, Syria, Egypt, India, and soon in Algeria.

He added, "The relationship between private sector and banks must be strong. We must increase the number of financial and funding institutions to support investment projects of all sizes."

Dr. Alaquil recommended that the recommendations of the 3rd Saudi International Banking & Investment Conference must be presented to all competent authorities through Chambers of Commerce, as well as the preparation of an investment guide to facilitate attracting Arab and foreign investors, an he further explained that there must be an adequate governmental and private sector protection for the investor and his rights.

Finally he stressed, "Saudi Arabia, based on being a third world country, must establish the thoughts of the first world in accordance with the directions and vision of Custodian of the Two Holy Mosques, His Royal Highness Crown Prince, HRH the Second Deputy and HRH the Governor of Makkah Region. This is what CPC was very keen to follow since its inception. "

The 3rd Saudi International Banking and Investments Conference is one of the most important events that took place in the region, with the participation of a great number of industry leaders, key decision makers, representatives of banks and financial institutions, fund managers, insurance companies, investors, and providers of IT solutions, property developers and other related parties, where they discussed ways to explore investment opportunities and challenges facing the growth of the Saudi economy.

The 3rd Saudi International Banking and Investments Conference offered great opportunities for decision makers in the industry to get posted with the latest local and international developments in their area of business.

Construction Products Holding Co. (CPC), is the Platinum Sponsor of the 3rd Saudi International Banking & Investment Conference as Platinum Sponsor, which was held at Jeddah Hilton Hotel on May 9-10.