Singapore (dpa) – Singapore and Saudi Arabia have launched a business forum aimed at identifying areas of cooperation, promoting networks and providing a channel for information exchange, the city- state’s trade body said on Monday.
Projects available in Saudi Arabia over the next 10 years are worth more than 400 billion US dollars.
The Saudi-Singapore Economic Cities Business Forum is co-chaired by Singapore’s Minister of State for Trade and Industry Lee Yi Shyan and Amr Abdullah al-Dabbagh, governor of the Saudi Arabian General Investment Authority, said IE Singapore, the trade promotion agency.
“With 25 million people and the world’s largest oil reserves, Saudi Arabia has also embarked on a number of economic diversification programmes,” said Lee at the launch for the forum in Jeddah during the weekend.
Singapore firm RSP Architects has been named master planner for the King Abdullah Economy City 200 kilometres north of Jeddah.
The city will feature a large port, industrial district and high- end tourism infrastructure.