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Prince Alwaleed Receives Moroccan Minister of Trade & New Technologies to Discuss Investment Issues

October 25, 2010

HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received on Sunday 24th October 2010 at his office in Riyadh His Excellency Ahmed Reda Chami, Moroccan Minister of Trade and New Technologies and an accompanying business delegation. The meeting was also attended by Eng. Ahmed Halawani, Executive Director of Private Equity, Dr. Nahlah Al Anbar, Private Executive Assistant to HRH the Chairman Mr. Fahad Alofi, Executive Assistant to HRH the Chairman.

The meeting began as Prince Alwaleed greeted the Minister and the accompanying delegation, HRH and the Minister discussed the warm friendship between their respective countries and the latest regional and international developments on the economic front. Moreover, the Minister invited the Prince to explore further potential investment opportunities in Morocco. In response, the Prince welcomed the Minister’s invitation and referred to Kingdom Zephyr Africa Management Company (“Kingdom Zephyr” or KZAM) as it is one of the leading pan-African private equity firms. Also on the agenda of discussions were the Prince’s investments in Morocco that include the Four Seasons Hotel Marrakech through Kingdom Hotel Investments (KHI) a subsidiary of KHC that is scheduled to open in early 2011. Furthermore, the meeting touched upon the Fairmont and Movenpick projects under construction in Morocco that will be management by companies in which KHC holds an interest.

In 2008, H.E. Dr. Mohamed Al-Bishr Saudi Ambassador to Morocco received the Medal Awarded to Prince Alwaleed at 1st Meeting of Arab Gulf Investors in Morocco (Gulfinvest) on HRH’s behalf in Rabat. The medal was an acknowledgement of Prince Alwaleed’s achievements as a global investor. The 1st Meeting of Arab Gulf Investors in Morocco conference was organized by Arab Gulf Agency for Media and Communication. The conference was attended by investors mainly from Saudi Arabia, Qatar and United Arab Emirates, along with a number of Moroccan businesses, official departments and Investment Authorities.

In 2008, Prince Alwaleed visited Morocco and was warmly received by His Majesty King Mohamed VI at the Royal Palace.