Investment scope in the Kingdom is broad and limitless: Al-Qassabi

RIYADH: Majid Al-Qassabi, minister of Commerce and Investment, told the members of the visiting Joint Bosnian-Serb delegation here on Monday that the investment scope in the Kingdom is broad.

The minister was addressing members of the visiting delegation at the ministry’s headquarters.

The first joint economic delegation from Bosnia-Herzegovina and Serbia’s visit to the Kingdom included officials from the ministries of Commerce and Tourism, the chairman of Serbia’s Chamber of Commerce and Industry and businessmen.

King Salman on Monday received the joint delegation that included Rasim Ljajic, Serbian deputy premier and minister of Trade, Tourism and Communications, and Mirko Markovic, deputy premier of Bosnia-Herzegovina, minister of Foreign Trade and Economic Relations and chairman of the Bosnian economic delegation.

The minister discussed ways of developing trade and investment cooperation with the visiting delegation, as well as promoting the investments in the fields of heritage and tourism between the Kingdom and the republics of Bosnia, Herzegovina and Serbia.

The minister said the investment scope is limitless. He said that MCI is seeking to encourage local investors in the field of import or industries. He also wants to promote trade and investment exchange between the Kingdom and the visiting delegations.

“We are currently working on an integrated system, starting with relevant regulations that bear the economic feasibility, encouraging the investment opportunities and giving incentives to bring prosperity and welfare to the concerned countries,” Ljajic said. “This would enable the investors and businessmen in the Kingdom to take advantage of the economic and investment opportunities, including tourism.”

Al-Qassabi said the tourism sector is an important issue in the economy and for investment.

“It requires the introduction of the concerned countries, and specifying the relevant tourist sites put up for investment, taking into consideration the health and medical tourism and other investment issues related to tourism sector in particular,” Al-Qassabi said.

During the two-day visit to the Kingdom, the delegation met officials, starting with Prince Sultan bin Salman, president of the Saudi Commission for Tourism and National Heritage (SCTH) as well Abdul Rahman Al-Fadli, minister of Water, Environment & Agriculture and Majid Al-Hogail, minister of Housing and businessmen in the Council of the Saudi Chambers (CSC).

Bilateral trade between the Kingdom and Bosnia-Herzegovina was $25 million in 2015, while the Kingdom’s two-way trade with Serbia stood at $31 million.

Source: Arab news