President Chen Shui-bian on the evening of May 31 bestowed the Order of Brilliant Star with Grand Cordon on His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia in recognition of his outstanding contributions to promoting friendly and cooperative relations between the two countries.
Prior to the ceremony, President Chen and His Royal Highness Prince Alwaleed held discussions. President Chen said that in the course of just one day, His Royal Highness visited Brunei, Vietnam, Malaysia and Taiwan. He said that this exhibits the impressive enterprise of His Royal Highness, as well as his physical stamina.
President Chen also lauded His Royal Highness for his insight and business acumen in running his various investments. The president especially expressed his admiration to His Royal Highness for in principle not investing in tobacco, alcohol or gaming enterprises. President Chen said that the corporate empire of His Royal Highness includes Saudi Arabia's tallest building, the 302-meter Kingdom Centre. In addition, he is also the largest shareholder in Citibank. Each year, the president said, Citibank generates earnings in its operations on Taiwan in excess of US$100 million, making it one of the most profitable foreign banks on Taiwan. The president also expressed his delight that His Royal Highness has invested in a Four Seasons Hotel on Taiwan, which will soon open. President Chen said that foreign investment in Taiwan industry has passed the US$70 billion mark, while investment in the stock market is over US$120 billion. He said he welcomes and looks forward to Taiwan becoming a top choice for His Royal Highness in investment and as a cooperative partner.
President Chen said it is regrettable that His Royal Highness is unable to stay in Taiwan longer during this trip. He said he is willing to personally accompany His Royal Highness on a tour of the island when he comes to Taiwan next time. The president added he hopes to create even more opportunities for commercial and economic cooperation between the two countries.
After receiving the Order of Brilliant Star with Grand Cordon, His Royal Highness said President Chen's bestowal of this honor is testimony to the strong economic, financial and cultural friendship and relationship between Taiwan and Saudi Arabia. He said that he is very appreciative of the courtesy and treatment he has received on his trip to Taiwan and hopes in the future to expand his investments on Taiwan. He reiterated his gratitude to President Chen for the respect and honor provided to him, his family and those in his entourage.