Saudi businessman highlights investment climate in Syria

Chairman of the board of the Saudi Holding Company, Prince Walid Bin Talal said yesterday that the climate for investment in Syria is "proper and encouraging," noting that the prospects are "promising" as well.

The Saudi prince, who is currently visiting Syria, said his talks with Syrian officials were fruitful and successful. He praised Syria's achievements in multi-faceted investment fields. Prince al-Walid Bin Talal added speaking of the close ties: "We have affection and appreciation for Syria and for its people. They are our brothers."

Replying to a question pertaining to the Four Seasons hotel he contracted for with the Syrian government on January 12, 1998 the Saudi prince said preliminary studies have shown that the project's costs are estimated at US $100 million. Meanwhile, the hotel's founders committee held a meeting during which the first board of directors of the company was elected.