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Hind Al Soulia - Riyadh - DHAHRAN — Eng. Saif Al Qahtani, president and CEO of King Salman Energy Park (SPARK) and Dr. Hamed bin Hassan Merah, CEO of the Saudi Center for Commercial Arbitration (SCCA), inaugurated on Sunday the new SCCA branch at King Salman Energy Park (SPARK), located in Al Khobar. This new branch, which is an addition to SCCA's headquarters in Riyadh, its branch in Jeddah and representative office in King Abdullah Economic City (KAEC), promotes SCCA's strategic plan to expand and support its wide client base.
During the inauguration, which was attended by senior officials from SPARK and SCCA, Eng. Al Qahtani said, “The SCCA branch at SPARK will be a key component of our comprehensive, one-stop-shop service offering. Building on our strategic partnerships with business facilitation enablers such as the SCCA, we are able to provide an attractive environment for those investors.
Eng. Al Qahtani continued: “Joining as an integral part of SPARK’s unified service center, SCCA will contribute to creating a business-friendly environment for both foreign and domestic investment by eliminating obstacles and difficulties related to Alternative Dispute Resolution (ADR).”
Dr. Merah, also commenting at the inauguration, said: “This opening of a SCCA branch in the Eastern Province, specifically at King Salman Energy Park (SPARK), is an extension of SCCA's continued determination to provide requisite professional, transparent and fast ADR —which includes arbitration and mediation — in accordance with international and professional standards and in multiple languages for both local and international parties. This plays a significant role towards achieving the goals of Saudi Vision 2030 by fostering an environment that attracts and supports investment, and further develops institutional arbitration in Saudi Arabia.”
As the only integrated global energy and industrial hub in the region, SPARK enables tenants to base themselves at the heart of the regional energy sector and benefit from being adjacent to other tenants. The arrival of the SCCA branch provides reassurance to investors that their investments will be protected by both local and international law, giving reassurance that SPARK is an environment that protects their assets and helps them manage risk as they grow their business in the Kingdom. — SG
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