Prince Saud bin Khalid Al-Faisal takes part in the GCC British economic forum in London 2 London

  • 2/5/2023
  • 23:08
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He said Saudi Arabia's government, led by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, has allotted as much as $76 billion in 2014 budget for the infrastructure, an 11.1 percent of the GDP, noting that the expenditure on the infrastructure per capita amounts to 815 dollars, double that in the emerging economies like Brazil, India and Indonesia. He said the Kingdom of Saudi Arabia ranked the world's eleventh on the world index for investing in infrastructure for 2014, surpassing a host of advanced countries, including the United States which came in the 12th place. For his part, the GCC Secretary General underscored the importance of the GCC market for British exports, noting that in 2011 exports worth 11 billion Sterling Pounds were sent to the GCC region, surpassing the United Kingdom's exports to all Latin American and Caribbean countries in the same year and tri-fold that to India. He drew the attention to the post-oil-and-gas era in the GCC member states, citing the importance of giving priority to sciences and technology in the field of education. He concluded that security is pivotal factor for investment in the region. --SPA 00:32 LOCAL TIME 21:32 GMT www.spa.gov.sa/w

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