SAUDI ARABIA OFFERS US$500 BLN IN INVESTMENT OPPORTUNITIES

KUALA LUMPUR, June 1 (Bernama) -- Saudi Arabia is offering US$500 billion
in investment opportunities over the next five years, the Council of Saudi
Chambers of Commerce and Industry secretary general, Dr Fahad Saleh A.AlSultan
said Monday.

The sectors that need development are education, health, telecommunication
infrastructure, agriculture as well as railways.

"We urge Malaysian businesses to visit Saudi Arabia and participate in the
development programmes.We need their technology and expertise," he said during a
press conference here, Monday.

Also present was the Malaysia External Trade Development Corporation
(MATRADE) deputy chief executive officer, Dr Wong Lai Sum.

Fahad Saleh also said that Saudi Arabia's economy was not severely impacted
by the global economic downturn and therefore, there were opportunities for
Malaysia to increase exports to the country.

"There is much room in respect of improving bilateral trade between the two
countries," he said.

He also highlighted that bilateral trade between Malaysia and Saudi Arabia
was now valued at US$3 billion.

Saudi Arabia's petroleum-based economy grew by 4.7 percent last year and in
2009, it is expected to widen further to 6.2 percent. -- BERNAMA