Economic Council Co-Chair and Minister of Fisheries and Agriculture, Dr. Mohamed Shainee and Economic Minister Mohamed Saeed has departed to Saudi Arabia, in a bid to court Saudi investments in to the mega projects planned by the Government.
Prior to departure Sunday night, Minister Saeed said that he was assured that Saudi investors will be ready to invest in i-Havan.
He described the project as major game changer in the economic landscape and future of the nation. Minister Saeed added that preliminary procedures for the project had taken place in the first two years of this Government, citing it as a major accomplishment.
Minister Saeed also noted that the Boston Consultancy Group (BCG), who did the initial feasibility study of the project will be going to Saudi as well.
The funds for feasibility study were also provided by Saudi grant aid. Dr. Shainee said that he will conduct negotiations with a reputed company in this trip, as the Government had received an offer to supply oil at reduced prices.
Government sources reported that the trip to Saudi Arabia will involve many such projects, which will yield insurmountable benefits to the nation.