Jeddah, Asharq Al-Awsat- Dr. Said Al Shaikh, Senior Economist at the National Commercial Bank (NCB) estimated that the Saudi Economy can continue to grow. He mentioned that there was no connection between the good performance that the Saudi economy is passing through and the decline in stock market.
Dr. Al Shaikh stated that the Saudi economy in its many sectors is heading towards an investment period. He added that the basic positive indicators of most Saudi Stocks are reassuring. They suggest that the Saudi stock market will pass this remedial stage into a better state for 2007.
Dr. Al Shaikh made these statements in a detailed economic presentation recently to a number of bank’s clients at the seminar held in Jeddah and Riyadh. Investment climate and growing markets in the kingdom were discussed.
Mr. Sami R. Abdo, the NCB Division Head of Investment Services, stated that the objective of the seminar was to familiarize investors with the importance of varying strategies for portfolios in light of the fluctuations occurring in the stock market in the regions, nations and the world, and increasing awareness with the investment climate. In addition, the program is considered an opportunity to show clients the significance of varying their portfolios over international expanded foundations in light of the fluctuations witnessed by the Saudi stock market at a time when nations of rising markets are experiencing fast economic growth.
He added that the goal of the seminar was to decipher the needs of clients and help them acknowledge the importance of entering rising markets at the right time in addition to acquiring a clear picture of the Saudi economy and the strong positive performance of most of the shareholder companies.
From another perspective, the investment expert from Lazar Company for Asset Management, which rates the best performing investor in the world, clarifies the importance of investing in nations of rising markets which are Brazil, Russia, India and China.