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
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