King Abdullah Economic City (KAEC) recently participated in the 6th edition of the Jeddah Industrial Forum (JIF) under the slogan “National transformation towards industrial transformation.”
The forum, organised by the Jeddah Chamber of Commerce and Industry (JCCI), was inaugurated by Prince Khalid Al Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah Region, and by Dr Tawfiq Al Rabiah, the Minister of Commerce and Industry.
JIF is in line with the partnership the government and the private sector are forging to help industries promote economic diversification, said a statement.
The forum stressed the need for balanced development to meet the vision of King Salman bin Abdulaziz for a vigorous industrial sector and stronger partnership between the government and private business, the statement said, adding that KAEC and other economic cities were good examples of such a partnership.
Rayan Qutub, CEO of the Industrial Valley at KAEC, dwelt on ongoing cooperation between KAEC and JCCI in his address.
“Since the industrial sector is second in importance to the national economy after oil, a main objective of the forum is to evaluate how industries can achieve strategic objectives to support industrial development in various regions of the kingdom,” said Qutub.
He gave a visual presentation highlighting developments at KAEC and the investment opportunities available in its Industrial Valley.
One of the presentation’s points was the advantages of King Abdullah Port, adjacent to the Industrial Valley, and its role in moving products to huge markets. It highlighted that the port served more than 250 million consumers in the Arab world and East and North Africa.
The port handled more than 1.4 million containers, operating to international standards with the use of the latest technology and the efforts of Saudi nationals, both male and female, said the presentation. Its capacity, which currently stands at 3 million standard containers annually, is expected to reach 4.5 million teu (twenty-foot equivalent units) by the end of this year.
The port is a key destination for inbound and outbound trade, it stated.
The Industrial Valley currently hosts more than 111 local, regional and international companies, 22 of which have started production and 30 others are in the process of setting up their plants. The valley focuses on six key sectors: logistics, consumer goods, pharmaceutical industries, packaging, building materials, and vehicles.
