Walid Bin Talal made best Arab investor of 2002
Saudi Arabia-Regional, Business, 2/28/2003

Saudi Arabia's Prince Al Walid Bin Talal Al Saoud, President of the governing board of the Saudi Group Kingdom Holding Co., was awarded Wednesday the Prize of Best Arab investor for 2002.

The prize was handed to Prince Ben Talal by Prince Moulay Rachid, younger brother of King Mohammed VI, at a dinner banquet in Rabat, on the fringes of the the Arab Investment forum held in the Moroccan capital this February 26-27.

Speaking at the ceremony, Moroccan Premier Driss Jettou said Morocco strongly believes in the need to create a unified Arab economic space to cope with globalization and the different changes sweeping across the world.

Jettou stressed the strategic importance such Arab economic union would have, as it will consolidate the position of Arab countries and peoples on the world scene.

The Forum is exploring means to overcome obstacles hindering the flourishing of inter-Arab economic cooperation. Speakers at the opening session deplored the low level of inter-Arab investments which did not exceed 2.5 billion dollars in 2001, which is 0.34 of the global foreign direct investments (60.2 billion dollars). (MAP)IS/

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