The Saudi Arabian General Investment Authority (SAGIA) announces that its 4th Global Competitiveness Forum (GCF) will be held from 23 to 26th of January 2010 in the Kingdom of Saudi Arabia.

Amr Dabbagh, Governor of SAGIA, expressed his thanks and gratitude to the Custodian of the Two Holy Mosques, King Abdullah bin Abdul Aziz, for his patronage of the Fourth GCF.

He added that “The Global Competitiveness Forum brings together global leaders and thinkers to develop the concept of sustainable competitiveness across international markets and to make a conscious, positive contribution to the growing body of research and thought leadership on this important topic and establishing it at the forefront of modern business practice.”

Founded in 2006, the GCF is the largest international economic event and the largest leadership gathering in the Middle East. It provides an international platform to raise awareness of the challenges facing competitiveness, critically evaluating the micro and macroeconomic requirements for becoming globally competitive.

GCF 2010 will feature over 100 speakers including the Saudi Minister of Finance Dr. Ibrahim Al-Assaf, Harvard Business School Professor and founder of the theory of competitiveness Michael Porter, the Governor of Saudi Arabian Monetary Agency Dr. Mohammed Al-Jasser, Founder of ‘Dell’ of computers Michael Dell, Founder and VC of the Global Investment House Maha Al-Ghunaim, President of Cisco Systems John Chambers, and James Wolfensohn, Chairman, Wolfensohn & Company LLC.

Mr. Abdul Mohsen Al Badr, CEO of the GCF, added:

“The GCF has established itself as a major global thought leadership event. The incredibly strong presence of local and global business personalities speaking at GCF 2010 confirms the event’s increasing international importance. The GCF has become an important intellectual meeting point for world business leaders, influential academics and pioneers of new business thinking. It also provides a high profile platform for best practice initiatives which encourage, develop and support sustainable social and economic activity.”

The theme for GCF 2010 will be sustainable competitiveness and various discussions will focus on key topics related to recent developments in the global economic climate by shedding light on the developments a year after the global economic downturn and the vision for 2010 and beyond. The role of governments as well as the private sector will also be discussed by looking at the challenges, incentives and requirements for sustainable competitiveness.

Other major topics include the environment and health care which will include contributions from five Nobel Prize winners and Saudi Female Professor Ghada Al Mutairi, winner of the NIH Director’s Pioneer Award Program for inventing a new technology that treats illnesses without surgery will all be participating at the forum.

New initiatives aimed at increasing the competitiveness of public and private sectors will also be announced in addition to the launched in previous forums – The Responsible Competitiveness Index, the Saudi Fast Growth 100 and the Porter Prize.

Regulatory reforms propel Saudi Arabia to improved Doing Business ranking

RIYADH, Saudi Arabia, Sept. 8 /PRNewswire/ — Today the World Bank placed the Kingdom of Saudi Arabia as the 13th most competitive country in the world in its annual Doing Business report, thus ensuring the Kingdom is well poised to achieve its goal of becoming one of the top 10 most competitive countries by 2010.

For the fifth consecutive year, the report ranks Saudi Arabia as the best place to do business in the entire Middle East and Arab World, ahead of Bahrain (20th), the UAE (33rd) and Qatar (39th). The report also ranks Saudi Arabia ahead of advanced economies such as Japan, Germany, France, and Switzerland. Whilst Saudi Arabia holds the lead position, improvements in the region generally indicate it is a global hot-spot for major investors.

The World Bank praised several of Saudi Arabia’s recent reforms which drove the country’s increased ranking this past year. These reforms made it easier to do business in Saudi Arabia by reducing the required complexity, time, and cost to start a business and obtain construction permits in the Kingdom.

“Saudi Arabia’s reforms demonstrate our determination to create the most attractive destination for investment opportunities in the world. We invite investors to learn more about the positive business environment in the Kingdom and to join in the growth of the business community,” said. H.E. Amr Al-Dabbagh, Governor of the Saudi Arabian General Investment Authority (SAGIA).

Saudi Arabia has shown significant improvements in the Doing Business rankings over the last 5 years, leaping from 67th position in 2004, to 38th in 2006, 16th in 2007 and to this year’s ranking of 13th. The Kingdom’s exceptional performance has been driven by the vision of His Majesty King Abdullah, Custodian of the Two Holy Mosques, to modernize the Saudi business environment, thereby attracting greater participation from foreign investors in the economy of the Kingdom. He has encouraged domestic and foreign investment in the country by enacting a new foreign investment law, establishing SAGIA, privatizing public companies, and achieving membership in the WTO.

The Governor of SAGIA has since institutionalized efforts to improve the competitiveness of the Saudi Arabian economy with the creation of the National Competitiveness Center (NCC) and the “10 x 10″ initiative. “Under His Majesty’s leadership, Saudi Arabia has set a goal for the Kingdom to become one of the top 10 most competitive countries in the world by 2010. Government ministries, private companies, investors, and the Saudi public have collaborated extensively to strive towards this vision,” explained H.E. Amr Al-Dabbagh.

“Competitiveness drives economic growth and contributes to sustained prosperity, encouraging entrepreneurship and the creation of new jobs. The Doing Business report is a vital reference for governments, international development agencies, and the private sector to assess the regulatory framework and competitiveness of nations. Saudi Arabia’s increased competitiveness signals the ongoing development of a dynamic and diversified economy in the Kingdom,” said Dr. Awwad Al-Awwad, Deputy Governor for Investment Affairs at SAGIA and President of the NCC.

Recent reforms have made Saudi Arabia a better place to do business for both domestic and foreign investors. This is demonstrated by increasing interest in the Kingdom among prominent foreign business leaders, who chose Saudi Arabia over other countries in the Middle East as investment destinations. “The World Bank Report confirms BAE Systems’ own experience of working in the Kingdom. Already a substantial investor and employer in KSA, our aspiration is to expand our presence further. The assistance and support of SAGIA is proving a key enabler for this growth,” said Guy Griffiths, Group Managing Director of BAE Systems.

In addition to the Doing Business report, a key measurement of the impact of the Kingdom’s reforms is the United Nations Conference on Trade and Development World Investment Report, which measures the global flow of Foreign Direct Investment (FDI). FDI flows into the Kingdom are a tangible measure of confidence from foreign investors in the Saudi economy and investment environment, especially during the current financial crisis. Saudi Arabia’s consistent improvement in the Doing Business rankings has been matched by FDI inflows to the Kingdom. In 2006, FDI in Saudi Arabia totalled USD 18.3 billion. Regulatory reforms and improved business conditions drove that figure to USD 24.3 billion in 2007. Although the final 2008 UNCTAD World Investment Report won’t be released until September 17, it is expected to confirm the Kingdom’s place as the top recipient of FDI in the Middle East and one of the top investment destinations in the world.

Such great achievements have bolstered the government’s resolve to continue the reforms that will make Saudi Arabia one of the 10 most competitive nations of the world. SAGIA and the NCC will play a central role in supporting continued efforts to enhance the Kingdom’s fundamental competitiveness.

ABOUT SAGIA:

SAGIA, the Saudi Arabian General Investment Authority, was established in 2000 as part of the new foreign investment law in Saudi Arabia. Its purpose is to attract investment to Saudi Arabia and more recently its mandate has evolved to encompass the enhancement of the Kingdom’s overall competitiveness.

SAGIA plans to attract sufficient investment to achieve rapid and sustainable economic growth in Saudi Arabia, capitalizing on the Kingdom’s competitive strengths as the global capital of energy and as a major hub between East and West.

It aims to position Saudi Arabia among the top ten most competitive nations by 2010 through the creation of a pro-business environment, a knowledge-based society, and by developing new, world-class ‘Economic Cities’.

To help boost competitiveness, SAGIA established the National Competitiveness Center (NCC) in 2006 to act as an independent body to monitor, assess and support the development of competitiveness in Saudi Arabia. The NCC serves as a think tank for change by conducting and developing competitive assessments and monitoring the implementation and results of change programs. It also works as a facilitator of change by creating forums for discussion between the public and private sector. Finally, the NCC acts as a communicator for change through publications such as its Competitiveness Reviews, which share the results of the Kingdom’s ongoing competitiveness efforts, and through its website www.saudincc.org.sa

For more information about SAGIA visit www.sagia.gov.sa

SOURCE SAGIA

WASHINGTON, July 31 /PRNewswire-USNewswire/ — The Kingdom of Saudi Arabia’s Minister of Foreign Affairs His Royal Highness Prince Saud Al-Faisal today met with U.S. Secretary of State Hilary Clinton to discuss a host of issues vital to both countries. The bilateral meeting and working lunch took place at the Department of State in Washington, DC.

During the meeting, Prince Saud emphasized the Kingdom’s commitment to working towards peace in the Middle East and expressed the view that “a bold and historic step is required to end this conflict and divert the resources of the region from war and destruction to peace and development.”

Prince Saud said that “incrementalism and a step-by-step approach” will not lead to peace, and that what is required is a “comprehensive approach” that defines the final outcome at the outset and launches into negotiations over final status issues. He continued: “The whole world knows what a settlement should look like — withdrawal from all the occupied territories, including Jerusalem, a just settlement for the refugees, and an equitable settlement of issues such as water and security.”

Prince Saud emphasized how the Arab world has taken a clear position for peace by unanimously adopting the Arab Peace Initiative at the 2002 Arab Summit in Beirut. The plan offers full and complete peace and normal relations in exchange for an Israeli withdrawal from all Arab Territories occupied in 1967, including Jerusalem. The Arab League has reaffirmed its commitment to the Arab Peace Initiative twice since 2002, most recently last year.

The Foreign Minister went on to say: “Israel is trying to distract by shifting attention from the core issue — an end to the occupation that began in 1967 and the establishment of a Palestinian state — to incidental issues, such as academic conferences and civil aviation matters… Israel must decide if it wants real peace, which is at hand, or if wants to continue obfuscating and, as a result, lead the region into a maelstrom of instability and violence.”

For a complete transcript of Prince Saud’s comments, visit www.SaudiEmbassy.net.

SOURCE Royal Embassy of Saudi Arabia, Information Office

Industry observers see Ornstein’s work as vital to establishing the Middle East as the new world-leader in hospitality design. His themes often incorporate Arabian motifs with Asian and European influences to create a never-before seen-esthetic in the luxury hospitality sector.
As a result of his vision, J/Brice (www.jbricedesign.com) was named designer-of-record for the iconic Aspire Tower — Doha, Qatar’s answer to the sail-shaped Burj al Arab that branded the city of Dubai. The royal families in the Middle East are diversifying oil wealth and investing in infrastructure and real estate, including of course hotels and resorts. When they asked J/Brice Design to create luxury properties in the Arabian Gulf and Indian Ocean, they also urged the firm to push the limits of luxury. “They want us to help them define a new World Standard that will attract and exceed the expectation of the new traveler to region. Indeed, we are now creating the interiors of Doha, Qatar’s iconic Aspire Tower that will define this city as much as the sail shaped Burj al Arab defines Dubai,” explains Ornstein.
The firm, which celebrated its 20th anniversary, is currently creating designs for a new property in the Saudi Arabian oil-rich province of Al-Khobar. The hotel Middle East hotel experience, according to Ornstein, “has to resonate with guests as diverse as fashion models from France, cattle barons from Uruguay or CEOs from North America. It comes down to this: guests, who arrive on their own Gulfstream, expect their hotel experience to exceed their homes and private jet. This guest must be awed.”
The Hotel that Branded a City
The Middle East captured the world hospitality industry limelight with the opening of the sail shaped Burj al Arab that put the city of Dubai, UAE on the map. Ornstein observes, “The property exceeded expectations with its sleek poetic shape and high fashion, luxury mystique. It actually established Dubai as a global brand with as powerful an icon as the Eiffel Tower is for Paris.”
Working in the Middle East offers challenges. “We have to meet guest demand for fresh new ideas all the time. We are creating unique and distinctly separate experiences for the guests of the Uber-Modern Aspire Tower and English Classic Hotel Khalifa in Doha, Qatar. The bold and inventive styles we are creating there are setting the benchmark for future developments we are managing in other Qatari locations as well as Bahrain, The Saudi Kingdom and the region’s newest hot spot, Zanzibar.”

How does a designer stay at the vanguard of creativity? Notes Ornstein, “Real inspiration must be drawn from our cultural, geo-political and economic environment. Those of us who want to remain hospitality industry leaders, have to read the people we serve and place them – not the hotel — at center stage. We must be guest-centered rather than hotel- centered. Just as memorable clothing fashions draw inspiration from people and society, we as hotel designers should think of ourselves as being, not in the hotel design business, but in the hotel fashion business.”
He adds, “The concept of hotel design as hotel fashion began to develop when I addressed Heimtextil, the renowned international fabric show in Frankfurt Germany. There I coined the term ‘Cultural Spy’. Indeed the designer as Cultural Spy underscores our belief that true inspiration comes from society – the guests our clients serve and want to serve. The term ‘Cultural Spy’ resonated with the international audience of designers, architects, textile manufacturing executives and hospitality industry leaders. It succinctly emphasized how important it is for the hotel designer to take in everything about society – from popular culture — such as movies, fashion, music and cuisine ­– to the fine arts as well as shifting economic centers, political winds and social tensions.”
Being a ‘cultural spy’ is at the heart of the J/Brice Design philosophy. Ornstein points out, “We are now restoring the luxurious RMS Queen Mary that first sailed in 1934. We are not simply bringing this magnificent ocean liner-cum-hotel and popular wedding venue in Long Beach, California back to its original Art Deco era splendor as if it were a museum. We are instead focusing on what a 21st century guest with contemporary expectations wants and recreating the romance – of luxury travel during in Hollywood’s Golden Age. Similarly, we read the guests who visit the Muse in New York and established This Times Square property as the sought-after hip-hop boutique hotel in Manhattan and the in place for music industry glitterati.”
From Hotel Design to Hotel Fashion
Looking to the future, the iconic hotels of the 2010-decade will be created by designers who recognize and then interpret cultural shifts, with the focus on the guests and their lives. The designers are getting support from owners who recognize the importance of making their hotel environments relevant to their guests’ lifestyles and culture.
Editorial note:
Jeffrey Ornstein’s J/Brice Design International (www.jbricedesign.com) is responsible for the design of Royal Family owned hospitality projects in Qatar and Saudi Arabia, as well as other luxury developments in Bahrain, Zanzibar, whose total construction costs exceed 1.2 Billion USD. Th firm is a preferred design group for Hilton Hotels including its Full Service, Corporate and Franchise properties, inclusive of all Hilton, Doubletree Hotel and Guest Suites, and Hampton Inn brands, Marriott International / Renaissance Hotels, Trump International Beach Resorts and Starwood – including Sheraton, Westin, and 4-Points, Best Western and Intercontinental Hotel Group.
In addition to the Aspire Tower, the firm’s International credentials include work for TAJ Hotels, Independent Boutique Hotels in Dubai, The Khalifa Hotel in Doha, Qatar, and currently the Al-Khobar Hotel and Towers in The Kingdom Saudi Arabia.

WASHINGTON, May 26 /PRNewswire-USNewswire/ — The U.S.-Saudi Arabian Business Council (USSABC), in collaboration with the multi-state coalition of the Eastern Trade Council (ETC), an affiliate organization of the Council of State Governments’ Eastern Regional Conference (CSG/ERC), will lead a delegation of eight companies from around the U.S. on a Business Development Mission to Saudi Arabia, May 29-June 2, 2009.

David Mathe, Chairman of the ETC, said “The goal of the USSABC-ETC business development mission is to provide American companies with first-hand experience of Saudi Arabia’s rapidly growing business environment and introduce them to the $1 trillion worth of project trade and investment opportunities that Saudi Arabia has earmarked through 2020 across all the main sectors in the Kingdom.”

The companies in the delegation represent the States of New York, Pennsylvania, New Hampshire, Washington, Texas, and New Jersey, and cover a broad spectrum of industry sectors including wastewater treatment, industrial cleaning and gas production, software solutions, construction, and supply chain management, among other sectors.

The agenda includes meetings with government representatives and business leaders from the private sector in Riyadh and Dammam, two of Saudi Arabia’s major commercial centers. Participants will also have access to market briefings, networking receptions, and one-on-one business meetings with prospective agents, distributors, and end-users during the mission.

The USSABC collaborated with the ETC on a previous business development mission to Saudi Arabia in November 2007. Several of the companies on that mission have developed ongoing business relations in the Kingdom as a result of the visit. David Mathe pointed out that two of the Pennsylvania companies in this delegation also participated in a USSABC mission to the Kingdom last year. Said Mathe, “We’re hopeful that the companies will be able to close deals this time around from the strong leads developed from their first visit.”

Edward Burton, President and Managing Director of the USSABC, added “The Business Council does four to six business missions to Saudi Arabia every year for small, medium and large U.S. companies. The missions have proven to be efficient and cost effective market entry tools for the many companies that have taken advantage of the service.”

About USSABC

The U.S.-Saudi Arabian Business Council (USSABC) is a non-profit organization with offices in the Washington, D.C. metropolitan area and Riyadh, Saudi Arabia. Incorporated in December 1993, our mission is to develop, foster, and expand the strategic business alliance between the U.S. and Saudi Arabia by promoting trade, investment, and sustainable economic development. The Business Council is a membership-driven organization with an impressive member roster that includes some of the most influential companies in the United States and Saudi Arabia.

The USSABC offers a wide range of products and services aimed at continually expanding business opportunities between Saudi Arabian and American companies. In addition to sponsoring business trade missions to and from Saudi Arabia, the USSABC offers Business Development Services, Networking Services, and Communications & Information Services.

For more information about the USSABC, please visit our website at: www.us-sabc.org.

About the Eastern Trade Council

The Eastern Trade Council (ETC) seeks to strengthen state and regional economic competitiveness in the global marketplace by sharing trade development information, jointly promoting regional products, and collectively advocating for federal trade promotion programs and policies which will benefit the region. The ETC is supported by annual appropriations from its 11 member jurisdictions.

Contact:

Jay Ennis
Communications & Information Services
703-962-9300 ; jennis@us-sabc.org

Source: U.S.-Saudi Arabian Business Council

CONTACT: Jay Ennis, Communications & Information Services of USSABC,
+1-703-962-9300, jennis@us-sabc.org

Web Site: http://www.us-sabc.org/

Qatar is expanding its fleet of ships to deliver liquified natural gas (LNG) around the world.

But it is difficult for Iran to develop its fields because US sanctions ban American oil companies from working there.

Al Jazeera’s Nicole Johnston reports.

66 to 124 floors in six months!

The Burj Dubai tower is designed to be the centerpiece of a large-scale, mixed-use development that will include 30,000 homes, nine hotels, 6 acres of parkland, 19+ residential towers, the Dubai Mall, and a large man-made lake. The complete 500 acre development will cost about $20 billion dollars (US). Once completed, the tower will cover a total of over 22 million square feet of development.

The official height of the Burj Dubai is kept secret because of international competition, but current estimates have it rising to a height in excess of 2,600 feet. Some estimate that it will be 189 floors or so – it is to be the tallest building in the world.

Recently, the construction site already surpassed height needed to make it (uncompeted) the second tallest building in the world.

The Burj Dubai is located in Dubai which is a city in the emirate of Dubai, part of the United arab Emirates in the Gulf region of the Middle East.

Dubai is part of the UAE, United Arab Emirates, a country in the Gulf region of the Middle East. The capital of the UAE is Abu Dhabi.

In a matter of months, new buildings appear in the perpetually changing Dubai City skyline. Various news articles state that tens of thousands of construction cranes are currently in Dubai, reportedly up to a third of all of the cranes in the world. It is quite amazing to see the speed at which they are working.

Dubai is an emirate of the United Arab Emirates. Wealth, education levels and growth equal or surpass the US. Economic progress in this city of the future is unprecedented. It is the Middle East that is not familiar to most Americans. The real change in the Middle East is not from the Iraq invasion, it is from construction and business and entertainment.

The speed of development in the region is mind boggling to most people.

Tourism, tourist, adventure travel, history, archaeology ruins explore anthropology Middle East. HRH Sultan bin Salman, Ministry of Tourism old site Al Saud family history.

BOSTON, MASSACHUSETTS February 24, 2008 Financial News

(Boston) The Governor of the Saudi Arabia General Investment Authority (SAGIA) His Excellency Amr Al Dabbagh was joined in Boston this week by Massachusetts State Treasurer Tim Cahill and a dozen academic and business leaders to discuss cooperation and business opportunities between Saudi Arabia and the US. The meeting was hosted by Bruce Fenton, President of Atlantic Financial Inc., an investment company that focuses on the Middle East region.

Governor Dabbagh highlighted SAGIA’s construction of six economic super cities and discussed the many economic incentives available to US based companies who might be interested in business opportunities in Saudi Arabia. The economic super cities are King Abdullah Economic City (KAEC), Knowledge Economic City (KEC), Prince Abdulaziz bin Mousaed Economic City (PABMEC), Jizan Economic City (JEC) and two more economic cities are expected one each in Tabouk and Dammam. Total infrastructure investment in Saudi Arabia is projected to exceed both the US and China. Governor Dabbagh highlighted the desire for Saudi corporations to draw on the expertise of US firms and the ways in which Saudi Arabia can benefit US companies as consumers and as a source of consumption, capital and a gateway to the region.

“The economic growth and social change in this region is astounding,” said Fenton. “It’s really one of the largest stories in the world today. People in the US need to know more about Saudi Arabia’s amazing accomplishments. We need a much greater level of understanding between our countries so it’s great that these business and academic leaders were able to hear more about the region’s latest developments.” Fenton’s firm provides US investors with access to the region, “Although business opportunity is extraordinary, what is even more important is bridging the cultural gap, no place in the world is more misunderstood by Americans than Saudi Arabia.”

“It’s important to build communication and understanding between our nations,” said Treasurer Cahill. “Governor Dabbagh outlined the many exciting reforms and changes Saudi Arabia is going through, and discussed ways in which Saudi Arabian economic growth can benefit Massachusetts companies and institutions.” Treasurer Cahill is responsible for economic growth of the $350 billion Massachusetts economy as well as the management of $60 billion in state government pension assets.

Governor Dabbagh’s group is the driving force behind the 10 by 10 strategy a goal set by Saudi Arabia to be ranked as a top-10 global economy by 2010. Fenton pointed out the hundreds of developments that were made already to bring Saudi Arabia from the triple digit rankings to the current rankings which surpass many other developed economies. Attendees at the private meeting represented some of the largest and most innovative companies and academic institutions in America.

In addition to Governor Al Dabbagh, Treasurer Tim Cahill and Bruce Fenton, the meeting was attended by Desh Deshpande, Chairman of Sycamore Networks, a publicly traded tech company, Stephen Pagliuca, Managing Director of Bain Capital, one of the world’s largest private equity firms and owner of over $70 billion worth of large corporations including Dominoes Pizza, Dunkin Donuts and 3Com, David Wajsgras Chief Financial Officer of Raytheon, a 72,000 employee defense contractor, Ben Thorndike Director of Investor Relations at Bain Capital, James Freeman of Cantella & Company a Boston based investment broker dealer, Tom Kennedy of The Kennedy Group communications consulting, Jane Nelson of the Kennedy School of Government, Anne Habiby, Consultant and expert on developing economies, Norman Strate, President of medical device company TBS Technologies, Rodney LaBrecque of Wilbraham & Monson Academy, a Massachusetts private high school that offers a global entrepreneurial study program and other business and academic leaders.