Interactive Saudi Arabia (ISA), the latest company approved under the Saudi Economic Offset Program, received its certificate of registration on Sunday, March 21, 2004.
ISA is a web-based applications and service company that will provide creative solutions to the Saudi government, banking sector and the corporate sector. Local joint venture partners are Hoshan Company, a Riyadh-based office equipment distributor, Ram World, an information technology company, and the Saudi Offset Limited Partnership; Interactive Limited of Dubai Internet City is the technology partner.
General Partner of the Saudi Offset Limited Partnership DevCorp International targeted e-government and e-commerce as growing businesses in the Saudi economy and identified Interactive Limited as a technology innovator and contributor.
The Saudi Offset Limited Partnership, established in 1997, offers an efficient and effective way for contractors to the Saudi government to fulfill their offset obligations.
By investing offset monies in the Saudi Offset Limited Partnership, international businesses put their offset contribution to work in researched and feasible projects chosen and administered by DevCorp. Raytheon Company's $25 million investment commitment launched the SOLP with an additional $10 million commitment from Thales International. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
