Business community pledges allegiance

Leaders of the Saudi Chambers and the Saudi business community declared their allegiance to Custodian of the Two Holy Mosques King Salman, Crown Prince Muqrin and Deputy Crown Prince Mohammed bin Naif.
In a statement on Sunday, CSC expressed its deep sorrow over the death of King Abdullah who rendered great services to Islam, his country, people and the Islamic world.
“We send our sincere condolences to the children of the late king, the royal family and Saudi people,” the statement said.
Expressing his heart-felt condolences on behalf of CSC members and the business community in the Kingdom on this sad occasion, CSC Chairman Abdulrahman Al-Zamil, said that during King Abdullah’s reign the Kingdom saw historic transformation in all walks of life, including economic, political and social aspects.
The Kingdom also attained great success at the regional and international levels.
Al-Zamil said that on the economic front, the late king carried out economic reforms that led to the integration of the Kingdom with the global economy through its membership in many organizations such as the WTO (World Trade Organization) and the G-20, among others.
He said that during King Abdullah's reign, many positive economic and commercial regulations were approved. This created a favorable investment climate in the Kingdom, which attracted 40 percent of investments in the Arab world. It also enhanced the Kingdom's stature among international institutions.
The size of the budget and the growth of liquidity during his time reflected an unprecedented expansion in the development of social projects, education and Saudi humanitarian projects.
The Kingdom has pursued diversified sources of income and reduced dependence on oil. As a result, there is an increase in the contribution of exports, industry and trade, construction and other sectors with a positive impact on the economy, he noted.
Al-Zamil also referred to the late king’s keen interest in the welfare of Saudi citizens to provide employment and training opportunities for low-income groups. He tackled the housing problem, health care and education sectors.
His efforts in promoting Arab reunion and reconciliation, international peace, stability and other initiatives in the dialogue between religions and civilizations reflect his international stature, he added.