A major investment conference, which is billed as the largest of such events in the Kingdom, will be held at Jubail Industrial City from November 13 to 15.

Saudi Arabia: Major Investment Opportunities in the 21st Century, will address key economic issues in light of the Kingdom's new investment laws that promote investments by private and foreign investors.

The conference is being held under the patronage of Crown Prince Abdullah bin Abdulaziz Al Saud, Deputy Premier and Head of the National Guard. It is being organised by the Royal Commission for Jubail and Yanbu in association with the World Development Federation and Saudi Basic Industries Development Corporation (Sabic) and Saudi International Petrochemical Company (SIPC) are the main sponsors of the event.

The timing of this conference is particularly appropriate in light of the Kingdom's new investment system.

It will provide an ideal forum for Saudi and foreign businessmen and investors to meet and discuss possibilities in an environment of mutual benefit and cooperation, according to Saud bin Abdullah bin Thunayyan Al Saud, acting chairman of the Royal Commission for Jubail & Yanbu.

The two industrial cities of Jubail and Yanbu are now making an enormous contribution to the economic well-being of Saudi Arabia.

The opportunity for continued growth and investment has never been greater, he says.

"This conference will highlight many of the opportunities our country can offer. Despite a past reaching back into the dawn of human history, Saudi Arabia is a young country whose future is just beginning," he says.

The conference offers a comprehensive, in-depth programme on the new investment and business development opportunities available in the Kingdom.

It will focus on "Why" and "How" to do business under the new regulations.

Speakers will discuss infrastructure, super projects, natural resources, the private sector, governmental and foreign direct investment and, most importantly, how all of these can be utilised in new business enterprise development.

The agenda will provide answers for participants who want real, valuable business opportunities.

High-ranking Saudi officials and global leaders in finance, construction, development, industry and government will join the participants in discussions.

"Investors could learn why Jubail Industrial City has the potential for providing them with significant business opportunities, what resources are at their disposal and what makes projects successful," says Al Saud.

They could also meet and talk with financiers, industrial expansion interests, business developers and support industry experts," says Al Saud. "This is an unparalleled opportunity to be face-to-face with government and business leaders, see what Saudi Arabia has to offer, and build the foundation for developing one's business interests," he says.

Specific opportunities exist for both direct investors and suppliers in oil and gas extraction; minerals; construction; chemicals and petrochemicals; rubber and plastics; concrete;industrial and commercial machinery; transportation equipment, and a range of business services including engineering, accounting, industrial development and finance.

The petroleum sector is key. A massive capital investment programme is now under way to upgrade production and refining capacities.

Current public sector projects include telecommunications, power generation, water desalination, airport improvements and public transport. Opportunities for privatisation of parts of the utility sector are increasing.

Incentives for foreign business development in the Kingdom include 10-year tax holidays, low-cost loans and customs exemptions.

All of these issues and more will be explored in detail with the responsible government officials during the conference, he adds.

Jubail Industrial City, about 100 km from Dammam, is a world-class industrial city, created on the desert shores of the Gulf just 25 years ago. Together with its twin, Yanbu Industrial City, which is situated some 350 km north of Jeddah on the Red Sea, it is a testament to the vision of Saudi Arabia's leadership and the rapid growth the Kingdom has experienced over recent decades.

With its skilled and enthusiastic workforce, modern infrastructure, abundant natural resources and strategic location between East and West, Saudi Arabia is the place to invest and do business in the 21st century, says Director General of The Royal Commission, Jubail, Dr Jasem Muhammad Al-Ansari.

Jubail and Yanbu are the cornerstones of Saudi Arabia's drive towards industrialisation. An estimated $13 billion will be invested in Jubail and Yanbu in new industries and infrastructure in the next five to 10 years.

In Jubail, more than $45 billion has already been invested in infrastructure and industrial facilities over the past 20 years. An industrial showcase, Jubail is now home to 17 major, primary industrial (natural-resource-based) facilities and approximately 150 secondary, support and light manufacturing operations.

The conference sessions will take place at the newly renovated Fanateer Cultural Center.

One of the innovative features of the conference is the Network Cafe, which will afford participants a dedicated area to use to schedule appointments and meet with selected other participants during the conference.

In addition to the traditional exhibit hall for sponsors, a large cafe-style space will be furnished with quiet tables and refreshments where sponsors, officials from the Investment Promotion Department of the Royal Commission, business representatives, and international business interests can sit, meet and talk in comfortable and discreet surroundings.

Each conference registrant will be given the opportunity to fill out a survey of his/her business interests, conference objectives and list of contacts with whom they would like to meet.

WDF will carefully match this up with the appropriate official from the Royal Commission, business and finance representatives, as well as compatible international interests.

The contact "matches" will become part of a Network Appointment Card that will be given to each participating registrant at the start of the conference.

The card will indicate those entities and individuals at the conference who will be available to meet and talk with the registrant in one-to-one meetings in the Network Cafe.