27/04/2016 05:15 AST
King Abdullah Economic City (KAEC) participated in the 6th edition of the Jeddah Industrial Forum (JIF) held at the Jeddah Hilton Hotel under the slogan “National transformation towards Industrial Transformation.” The Forum was inaugurated by Prince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah Region, and Dr. Tawfiq Al-Rabiah, the Minister of Commerce and Industry.
JIF is in line with the partnership between the government and the private sector, to enable the robust industrial sector to promote economic diversification as a key part of the transformation of the Kingdom’s economy. The agenda included the adoption of an innovative youth program and a national transformation program.
Jeddah Chamber of Commerce and Industry (JCCI) organized the forum to promote balanced development in order to contribute to achieving the vision of the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz for a vigorous industrial sector and strengthen the partnership between the public and private sectors; King Abdullah Economic City and other economic cities are the best example of such partnership.
Rayan Qutub, CEO of the Industrial Valley at KAEC, spoke at the first session of JIF, and talked about the ongoing cooperation between KAEC and JCCI. “Since the industrial sector is the second most important sector for the national economy after oil, a main objective of the forum was to evaluate the role of the industrial sector in achieving the Kingdom’s strategic and economic objectives to support industrial development in various regions of the Kingdom,” said Qutub. He gave a visual presentation highlighting the developments in KAEC, and the investment opportunities in the Industrial Valley.
The presentation also outlined the advantages of King Abdullah Port, strategically located next to the Industrial Valley, which facilitates the movement and access of industrial products and commercial traffic to huge markets, serving over 250 million consumers in the Arab world, and East and North Africa. The movement of goods at the port has reached more than 1.4 million containers, operating to international standards with the use of latest technology operated by young Saudi nationals, both male and female. King Abdullah Port’s massive capacity, which currently stands at 3 million standard containers annually, is expected to reach capacity of 4.5 million TEUs by the end of the current year, which redefines the economic plans in the region and adds a new dimension to maritime navigation. The port is a key destination for inbound and outbound logistics and products in the region.
The Industrial Valley at KAEC currently hosts more than 111 local, regional and international companies, 22 of which have started production and more than 30 companies which have begun to set up their plants in the Industrial Valley, which focuses on six key sectors: logistics, consumer goods, pharmaceutical industries, packaging, building materials, and vehicles. Global and Saudi investment continues to grow as an increasing number of investors have made KAEC’s Industrial Valley their location of choice for business in Saudi Arabia.
Saudi Gazette
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