(MENAFN - Arab News) Saudi Indian Business Network organized a workshop at Hilton Hotel, Jeddah to highlight the tremendous investment opportunities available in both the countries - India and Saudi Arabia.
SIBN is a networking organization of Saudi and Indian businessmen and senior executives under the auspices of Consulate General of India, Jeddah. The main objective of the body is to foster bilateral economic and commercial ties between India and Saudi Arabia by exploring and highlighting the trade and investment opportunities in both the countries.
Following the recitation of verses from the Holy Qur'an by Obaid Madani, the joint secretary of SIBN, the workshop began. Three speakers from different backgrounds spoke in the workshop.
Mohammed Bajba, director of Gold Project at Ma'aden, explained in great detail the corporate policy of Ma'aden as the third most important arm of Saudi Arabia government, which is doing its best to use the nation's natural resources for a sustainable growth of Saudi Arabia. He outlined the tremendous opportunities available for Saudis and foreign investors to explore mineral wealth and related ancillaries in Saudi Arabia.
Osama Ibraheem Abdouh, director general of Infrastructures for Economic Cities Authority, Saudi Arabia, enthralled the audience by sharing the vision of the Saudi leadership to create future centers of excellence in the shape of four planned economic cities spread across the Kingdom.
The final presentation was made by a financial expert of Indian Capital Market, K.L. Ravindran. He informed the audience that an investment of about SR5,000 in 1980 in the shares of WIPRO, a leading IT company in India, would have been worth SR300 million today. This revelation by Ravindran surprised the audience and opened the floodgates of potential Indian stock market holds.
A large crowd of Saudi and Indian entrepreneurs, businessmen and senior executives attended the workshop, which was presided by Indian Consul General Faiz Ahmad Kidwai, who is also the vice patron of SIBN.
Ghazi Faisal Binzagr, president of SIBN, earlier welcomed the audience and the speakers, and shared his vision of taking SIBN to newer heights under his leadership. He is leading a strong Saudi Business Delegation to India starting from April 26.
Commercial Consul Shakeel Ahmad and Sayeeduddin, SIBN general secretary, also spoke.
Asar Khan, vice president of SIBN, delivered the vote of thanks. Rehan Khan, SIBN treasurer, conducted the program.