Heenan Blaikie LLP and the Saudi Arabian General Investment Authority sign a Memorandum of Understanding

TORONTO, Feb. 4 /CNW/ - Heenan Blaikie LLP and the Saudi Arabian General Investment Authority (SAGIA) signed an historic Memorandum of Understanding (MOU) on January 24 at the 5th Annual Global Competitiveness Forum held in Riyadh. The MOU was signed by The Right Honourable Jean Chrétien, P.C., C.C., O.M., Q.C., counsel to Heenan Blaikie LLP, in a meeting with His Excellency Governor Amr Al-Dabbagh, Chairman of the Board of Directors of SAGIA.

This agreement provides a framework for joint efforts to identify and promote investment opportunities in the Kingdom of Saudi Arabia (KSA) by Canadian companies. Heenan Blaikie and SAGIA will develop and maintain a program of cooperation in a number of key economic sectors critical to the progress and competitiveness of the KSA, and have already begun seeking foreign partners.

SAGIA's leadership role in the development and management of foreign investment in the KSA is key to the development of long term economic growth. Through the MOU with SAGIA, Heenan Blaikie has created a direct route for its clients to invest in this growth opportunity.

"Heenan Blaikie is very pleased to formalize our already strong relationship with SAGIA." commented Norman Bacal, Co-Managing Partner of Heenan Blaikie. "This is a unique agreement and marks the first time SAGIA has entered into a third party agreement of this kind with a private sector partner. 

It is another example of Heenan Blaikie creating innovative international alliances and developing investment and growth opportunities for Canadian companies in the global marketplace."

Heenan Blaikie has also agreed to work with SAGIA to promote the annual Global Competitiveness Forum in Canada.  The Global Competitiveness Forum is a meeting of global business leaders, international political leaders, and selected intellectuals and journalists. The purpose is to create a dialogue with respect to the positive impact organizational and national competitiveness can have on local, regional and global economic and social development. 

In 2008, Heenan Blaikie was pleased to host Governor Al-Dabbagh for a series of meetings with several of Canada's leading business figures in Toronto, Montreal and Vancouver. As well, in 2009 and 2010, a team of Heenan Blaikie lawyers, led by former prime minister The Right Honourable Jean Chrétien, were guests of Governor Al-Dabbagh at the Global Competitiveness Forum. Mr. Chrétien was a speaker at the Forum this year and in 2010.

About Heenan Blaikie LLP

Heenan Blaikie LLP is one of Canada's top national law firms with more than 550 lawyers and professionals across Canada and in Paris and Singapore. We deliver strategic legal advice and innovative business solutions in business, labour and employment, litigation, tax, intellectual property, and entertainment law. Our clients range from Canada's largest firms to start-ups, public institutions and government bodies, and multinational and international clients.

About the Saudi Arabian General Investment Authority

SAGIA's vision is to act as a gateway to investment in Saudi Arabia. SAGIA seeks to attract sufficient investment to achieve sustainable rapid economic growth while capitalizing on the Kingdom of Saudi Arabia's competitive strengths as the global capital of energy, and as a major hub between East and West.

SOURCE Heenan Blaikie

For further information:

Norman Bacal
Co-Managing Partner
Heenan Blaikie
T 416 360.3526
F 314 360.8425
nbacal@heenan.ca

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