Saudi Arabia: 27,000 Businesswomen With Investments Of Around Two Billion Riyals

Saad Al Asmary - Al-Hayat - 2004/06/13

Riyadh

The Saudi trade and industry minister, Dr. Hashem bin Abdullah Yamani, estimated the number of the commercial and industrial registers in the ministry for businesswomen at around 27,000 registers of investment of around two billion Riyal ($533 million), including 8,000 registers in Riyadh.

Yesterday, in a press conference that followed the opening of the businesswomen service center related to the trade and industry ministry, he stated that "the women's capitals' volume in the country is estimated at around 60 billion Riyals and constitutes around 70% of the savings' volume in the Saudi banks."

He pointed out that the ministry is currently working on "implementing the government's decision to develop an industrial city for women" and that "it started dedicating a part of the industrial city in Tabuk for women's projects, according to the orders of Tabuk's Prince."

Yamani explained that the ministry is also working on founding a center for businesswomen's sector, just like businessmen, and that it started in Riyadh and will be soon spread in the other regions.

He pointed out that, soon, Saudi Arabia will join the international trade zone and "we started this on three levels, and not only through the bilateral agreement." He added that "there are bilateral negotiations with only Panama and the U.S.. the dispute with Panama is formal and does not require much attention. As for the U.S., there are many issues it wants to understand and this takes a long time."

He added: "Now, we are at the final stage. As for the collective track, we have comprehensive commitments toward all the members. This will be discussed within the team work. A meeting will be held on next Wednesday in Geneva to discuss this issue."