(MENAFN - Arab News) Baha Gov. Prince Mishari bin Saud yesterday highlighted investment opportunities in the region. "All economic indicators prove the success of investment projects in Baha," he said while opening the first investment forum in the region.
"Given the incentives offered by the government for the progress of underdeveloped regions, Baha can become an incubator for investment industries," he said. The Industrial Development Fund offers loans up to 75 percent of a project's capital.
He said products of Baha industries could be supplied in the neighboring regions of Makkah, Jazan, Asir and Najran. "The construction of new road will reduce the distance between Baha and Riyadh to six hours," he pointed out.
Dr. Hamid Al-Shammari, chairman of the organizing committee, also noted Baha's investment potentials including natural resources, infrastructure, historical sites and beautiful natural sceneries.
He emphasized the leading role being played by Prince Mishari to tap the region's tourism and investment potentials. "This forum aims at drawing the region's investment map," he pointed out.
The forum also aims at encouraging businessmen to invest in the region after explaining to them its major attractions. "Gov. Prince Mishari has opened an investment office in Baha to provide all necessary facilities to investors," he added.
Al-Shammari said the forum's topics were selected to give a clear picture for investors about the region. He also noted the role of Saudi Industrial Property Authority (Modon) in attracting funds to industries.
Dr. Muhammad Al-Kuthairy, deputy minister for foreign trade, highlighted the government's efforts to develop the country at par with advanced countries.
"Saudi Arabia currently plays an important role in global economy and it is an active member of several international organizations," he pointed out. He urged the private sector to make use of the excellent investment opportunities in the Baha region.
Prince Mishari bin Saud, chairman of the constituent committee for Baha Holding Company, meanwhile signed three contracts with specialized firms on the sidelines of the investment forum.
Hussein bin Abdul Wahab bin Daajem, deputy chairman of the committee thanked Custodian of the Two Holy Mosques King Abdullah for giving the license to establish Baha Cement Factory with a daily capacity to manufacture 12,000 tons.