King Abdullah of Saudi Arabia on 15 November 2008 announced that in the coming 5 years to invest 400 billion USD in crude oil and other industries.
According to Saudi Arabia news agency report on the same day, King Abdullah while attending the G20 summit at Washington says that the measure is to stimulate the local economy growth to counter the negative effects from the global financial crisis.
King Abdullah also says that there will be coordination with other countries to ensure the global economies recovery and growth. He warns that the middle east area cannot escape from this crisis unhurt.
In recent years, Saudi Arabia is becoming more and more concerned about investments in various industries. According to local media reports, Saudi Arabia this year will invest 20 billion USD in information and communication technology developments overtaking US as the country with the most investments in that industry.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment