SAUDI INVESTOR PROPOSES FORMATION OF JOINT PROMOTION COMPANY

Jakarta, June 26 (ANTARA) - A Saudi investor proposed that the Indonesian and Saudi governments set up a joint promotion company in an effort to increase investment in the two countries.

The proposed company would promote investment projects in the two countries, chairman of the Global Unions Company of Saudi Arabia, Dr Khalid S Al Musa, said at an Indonesia-Middle East Update Business Forum here Thursday.

He said the joint company would serve as a consultant and Saudi Arabia was ready to do the planning and conduct a feasibility study on the company's formation if Indonesia was seriously interested in the idea.

According to him, the volume of Indonesian products in Middle Eastern markets was still small as people in the region were not yet familar with products from the archipelagic country.

He said mass media were playing an important role in promoting Indonesian culture in Saudi Arabia.

Relations in the business sector between the two countries were increasing, he said, adding that the value of Saudi investment in Indonesia had reached US$28 billion.

He said Saudi investors considered conditions in Indonesia whith its abundance in natural resources conducive for investment.