Saudi Arabian General Investment Authority
Encyclopedia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
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.
The “10 x 10” Program
The objective of SAGIA’s ambitious “10 x 10” program is to place Saudi ArabiaSaudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
among the world’s top ten competitive investment destinations by the year 2010. With this in mind, SAGIA 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
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
’s “Doing Business” report, the World Economic Forum
World Economic Forum
The World Economic Forum is a Swiss non-profit foundation, based in Cologny, Geneva, best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland....
’s “Global Competitiveness Report, and the IMD
IMD
- As a word :* IMD, Interchange Member Descriptors. * Imd, a family name* Imd, a giantess in Norse mythology, one of the nine Mothers of Heimdall- As an acronym :...
’s“World Competitiveness Yearbook”.
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;
- Member of the World Economic Forum;
- Member of the Middle East Regional Advisory Board of 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;
- Formerly served as a member of 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 (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;
- 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;
- Chairman of the Board of Directors of The Centennial Fund;
- Former Member of HRH Prince of Wales Business Leaders Forum in the United Kingdom;
- Founding Chairman of the 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 BusinessArabian BusinessArabian Business is the Middle East's best selling weekly business magazine. The magazine focuses on the English and Arabic speaking communities and is published in both languages.-Arabian Business:Arabian Business is audited by BPA Worldwide...
, an ITP publication; - Recipient of “Leadership Award” by Lebanese Prime Minister during the 12th Arab Economic Forum in Beirut.