We want France to become the No. 1 investor in the Kingdom: Saudi-French Business Council chief

Saudi and French officials attend the 40th Saudi-French Business Council session in Paris. (SPA)
Updated 20 October 2018
Follow

We want France to become the No. 1 investor in the Kingdom: Saudi-French Business Council chief

  • France ranks third among countries investing in Saudi Arabia
  • Saudi investments in France amount to about $900 million, mostly in the real estate sector

JEDDAH: A delegation from the Saudi-French Business Council concluded a visit to the French cities of Paris and Lyon.

The delegation participated in the council’s 40th session, during which four commercial contracts were signed. It also visited French art companies and museums to discuss opportunities for cooperation.

The delegation met with Lyon’s Mayor Alain Galliano, who briefed it on tourism in the city and praised the opening of cinemas in the Kingdom.

Dr. Mohammed bin Laden, co-chairman of the council, said: “The economic partnership between the Kingdom and France has taken on new strategic dimensions, benefiting from the great understanding and harmony between the two countries’ leaderships in all fields, especially political ones.”

The council plays a major role in stimulating investments between the two countries, he said, adding that the French are very open to investing in the Kingdom, with their investments there totalling SR4 billion ($1,07 billion).

The growing openness of the Saudi financial market to foreign investments has become a magnet for investors from around the world, including France, he said. 

The crown prince’s recent visit to France was the cornerstone of investments amounting to $18 billion, bin Laden said, adding that bilateral trade exceeds $9.22 billion. 

France ranks third among countries investing in Saudi Arabia, and has 80 companies operating in the Kingdom. “We want France to become the No. 1 investor in the Kingdom,” said bin Laden.

Saudi investments in France amount to about $900 million, mostly in the real estate sector, according to French statistics.

France knows that the Kingdom is the largest Gulf and Arab economy, and that it has a huge consumer market, said bin Laden. 

The Saudi-French CEO Forum in Paris in April resulted in the signing of 20 memoranda of understanding amounting to $18 billion.


Where We Are Going Today: Ana Starter Sourdough Factory in Dammam

Updated 59 min 34 sec ago
Follow

Where We Are Going Today: Ana Starter Sourdough Factory in Dammam

Since returning to live in the Kingdom after years abroad with the best bakeries at my fingertips, I have been on a mission to find suitable sourdough locally. I sampled many mediocre ones, but one would rise above the rest: Ana Starter Sourdough Factory.

I first met founder Aisha Al-Omair at the Juthoor Farmer’s Market and tried her bread then. I liked it immediately.

“Ana Starter Sourdough Factory started as a passion for creating and fermenting the healthiest bread and introducing it to the Saudi market,” she told me at the time.

It began as a personal mission then expanded — like the dough — to serve the community.

“For a long time, I’ve suffered feeding my kids proper bread. The breads that were available at the supermarkets or at local bakeries had instant yeast, that never really took time to ferment, and therefore, when you consume the average bread, you notice some stiffening, you notice indigestion, you notice bloating and heartburn.”

Indeed, I did not feel any bloating or heartburn after devouring a slice or a few so I recently went on a quest to find more.

I ventured to Dammam to find her factory shop. It is a tiny slither of a place — I almost missed it while driving past factories in the Industrial City.

The shop comes with a decadent whiff of delicious bread.

Upon entering, you will see fridges stocked with bread and goodies like jams and butters (from other brands) that complement the bread well.

The sourdough offerings include jalapeno cheddar, zataar, plain and about a dozen other flavors.

The hassawi sourdough, made with local dates from neighboring Al-Ahsa, quickly became my favorite. It has little bits of dates tucked inside like tiny treasures.

Each slice is separated with a sheet, making it easy to freeze and pull out what you need without slices sticking together.

Fluffy with a rustic crust, it is great for sandwiches, dipping in olive oil, or slathering with salted butter.

My freezer is now packed with loaves.

At around SR45 ($12) per loaf, the price is slightly steep for the local market, but the superior quality is worth the extra dough.

Each day, they post on Instagram Stories showing what is available for pickup — and the quantity of each item.

Ordering is easy: Send a DM to reserve a loaf, swing by the shop, or opt for delivery.

• For more details, check their Instagram @anaastarter.