Saudi Arabian General Investment Authority

The Saudi Arabian General Investment Authority (SAGIA) was created by the Saudi Government on April 10, 2000 as part of measures geared towards formalizing the process of economic liberalization. SAGIA is responsible for managing the investment environment in the Kingdom. Its objective is to achieve rapid and sustainable economic growth by creating a pro-business environment, providing comprehensive services to investors and fostering investment opportunities in key sectors of the economy, including energy, transportation, ICT and knowledge-based industries.

Programs and Plans

The “10 x 10” Program

The objective of SAGIA’s ambitious “10 x 10” program [ [http://www.sagia.gov.sa/english/index.php?page=overview-of-10x10-program/ Overview of 10x10 Program] ] is to place Saudi Arabia among the world’s top ten competitive investment destinations by the year 2010. With this in mind, SGAIA has created the National Competitiveness Center (NCC), which compares the performance of Saudi Arabia’s investment opportunities to more than 300 indicators of global competitiveness, assessed in such publications as the World Bank’s “Doing Business” report, the World Economic Forum’s “Global Competitiveness Report, and the IMD’s“World Competitiveness Yearbook”. [ [http://www.sagia.gov.sa/english/index.php?page=ncc/ NCC (National Competitveness Center)Overview ] ]

Guiding the drive toward greater competitiveness, job creation and economic diversification are the Economic Cities. These are mega projects in the form of integrated cities of the future. They are private-sector ventures which take full advantage of Saudi Arabia’s pre-eminence as the energy capital of the world and its strategic location as a major hub between East and West. The Economic Cities will offer investors an unparalleled, business-friendly environment within a globally competitive regulatory and incentive-offering framework.

The Economic Cities

In developing the Economic Cities, over a thousand of the world’s free zones were surveyed. The sixty deemed most successful were meticulously studied to determine key success factors. As a result, the Economic Cities represent the ultimate innovation in Public-Private-Partnership (PPP). Thanks to their innovative design, residents of these fully integrated developments will be able to live, work and play in the Economic Cities.

The objectives of the Economic Cities are to:
* Promote balanced regional development.
* Achieve economic diversification.
* Create jobs.
* Enhance competitiveness in Saudi Arabia.

Governor of SAGIA

Mr. Amr Al-Dabbagh, is the Governor and Chairman of the Board of the Saudi Arabian General Investment Authority (SAGIA), with the rank of Minister. He was appointed to the position on the 22nd of March, 2004, by Royal Decree of the Custodian of the Two Holy Mosques, the late King Fahd of Saudi Arabia, who had previously appointed Governor Al Dabbagh to two consecutive, 4-year terms as a member of the Regional Council in the Makkah Province, Saudi Arabia.Mr. Amr Al Dabbagh in brief:
*Governor and Chairman of the Board of the Saudi Arabian General Investment Authority;
*Served as the Chief Executive Officer and President of the Dabbagh Group [ [http://www.dabbagh.com/ Dabbagh Group] ] ;
*Member of the World Economic Forum;
*Member of the Middle East Regional Advisory Board of the London Business School [ [http://www.london.edu/the London Business School] ] (of which he is also an honorary alumnus);
*Member of the Board of Trustees of Eisenhower Fellowships;
*Formerly served as a board member of the Harvard Institute for Social and Economic Policy in the Middle East at the John F. Kennedy School of Government [ [http://www.hks.harvard.edu/ Harvard John F. Kennedy School] ] ;
*Formerly served as a member of the Young Presidents' Organization [ [http://www.ypo.org/the Young Presidents' Organization] ] (and its former Chairman in Saudi Arabia and Bahrain);
*Formerly served on the Advisory Board of the Islamic Corporation for the Development of the Private Sector;
*Former member of the Board of the Arab-French Chamber of Commerce;
*Former member of the Board of Directors of the Savola Group [ [http://www.savola.com/savolae/index.php/Savola Group] ] (one of the largest foods-based businesses in the Middle East);
*Twice elected to consecutive, 4-year terms as a board member of the Jeddah Chamber of Commerce & Industry [ [http://www.jcci.org.sa/JCCI/EN/Jeddah Chamber of Commerce & Industry] ] ;
*Formerly served as Chairman of the Jeddah Marketing Board;
*Formerly served as Honorary Counsel of the Republic of Kazakhstan in Saudi Arabia;
*Founding Chairman of the Jeddah Economic Forum [ [http://jef.com.sa/jef2008/Jeddah Economic Forum] ] ;
*Chairman of the Board of Directors of The Centennial Fund [ [http://web.tcf.org.sa/CentennialFund/Arabic/The Centennial Fund] ] ;
*Former Member of HRH Prince of Wales Business Leaders Forum in the United Kingdom;
*Founding Chairman of the STARS Foundation [ [http://www.stars-foundation.org/STARS Foundation] ] ;
*Formerly Vice President of the Wildlife Conservation Foundation of Tanzania;
*Designated by the Executive Board of the World Economic Forum and the Editorial Board of Worldlink Magazine as one of 100 "Global Leaders of Tomorrow" to watch;
*Recipient of “Man of Year 2005” award from Arabian Business, an ITP publication;
*Recipient of “Leadership Award” by Lebanese Prime Minister during the 12th Arab Economic Forum in Beirut.

References

External links

* [http://www.sagia.gov.sa/ SAGIA's official website]
* [http://www.saudincc.org.sa/ The National Competitiveness Center]
* [http://www.gcf.org.sa/ The Global Competitiveness Forum]
* [http://web.tcf.org.sa/CentennialFund/Arabic/The Centennial Fund (Arabic)]
* [http://www.noor.org.sa/Global Knowledge Forum ]