Saudi investment chief downplays impact of terrorism

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AFP , RIYADH, JUNE 20
Saudi Arabia's new investment chief said yesterday that the kingdom is too important a market to be shunned by foreign entrepreneurs despite a spate of terror attacks against Westerners.

"Saudi Arabia is one of the large global economies, and it will always be a destination for certain foreign investments," Amr Dabbagh said.

"Competitive advantages of Saudi Arabia will always attract foreign investments, and I honestly feel that terrorism will not deviate the attention of those who are interested in the hydrocarbon market in particular," he said.

"For example, we've just seen a US$4 billion commitment by Sumitomo," he said.

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