|SICPA-Jameel, a new joint venture between Swiss company SICPA Finance and Abdul Latif Jameel, was one of four businesses to receive investment licenses from the Saudi Arabian General Investment Authority (SAGIA) at a ceremony in Bern, Switzerland.|
The enterprise will deliver information and data services across Saudi Arabia, where it will provide ‘track and trace solutions’ designed to secure the production, import, export and trade of sensitive goods such as pharmaceuticals, food, money, identity documents and excisable goods.
Fady M. Jameel, Deputy President and Vice Chairman, Abdul Latif Jameel, said: “Abdul Latif Jameel is proud to be the investment partner of choice for this venture with SICPA Finance and bring this cutting-edge ‘track and trace solutions’ technology to businesses and consumers in Saudi Arabia.”
HE Eng. Ibrahim Al-Omar, SAGIA Governor, also commented: “These excellent developments… underline the importance of building strong economic partnerships. We want to use these partnerships to help illuminate and enable investment opportunities for companies and investors across a number of promising sectors, while also helping to realize the Kingdom’s Vision 2030, economic diversification and a new era for Saudi Arabia.”
There are now 94 Swiss projects invested in Saudi Arabia. Mr Al-Omar added: “We very much welcome the strong and valuable Swiss presence in Saudi Arabia and we look forward to celebrating 100 Swiss investments soon.”