In the open meeting in Asharqia Chamber yesterday.
The
city is opening its arms to local investors, including small, medium and
foreign institutions, with an area of 181 million square meters,
strategically located near Makkah, Madinah and Jeddah, the Executive Chairman
of KAEC said.
This
was in the open meeting organized by Asharqia Chamber in cooperation with King Abdullah Economic City
on Wednesday March 29, 2017 in the headquarters and managed by the Secretary
General of the Chamber Abdulrahman bin Abdullah Al Wabel. He mentioned that the
city is under the supervision of the Cities Authority provides all the services
required for licensing work around the clock, And
not limited to large companies, but even small and medium institutions, and ownership is available to
citizens and foreigners by 100%.
He
pointed that King Abdullah Economic City agreed with the Industrial Development
Fund to raise the proportion of financing to 60% for investors in the logistics
area of the Industrial Valley. This percentage is not limited to industrial
establishments, but even institutions that provide logistic services to
factories in the city.
Qutb
added that King Abdullah Port, which is one of the largest ports on the Red
Sea, is the main economic engine in the city as it drives all the services
offered in the city. It is the first port in the Kingdom to offer 24 hours
service, expecting that this period will be less in the near future, it can
take 3 million containers, and will increase at the end of next year to 4.5
million.
He
said that one of the elements of success in the city and in the port is the
partnership between the city administration and the
concerned governmental committees. We are dealing with 19 governmental committees.
Our cooperation is full. The port has its potential and its important location
receives the largest vessels and cranes in the world. multi-purpose
for receiving ships of various sizes.
He
pointed that King Abdullah Economic City is connected to all means of transportation,
both road networks linking it with major cities in the west of the Kingdom, as
well as King Abdulaziz Port and King Abdulaziz Airport in Jeddah. The train of
the Two Holy Mosques, which entered the experimental operation stage, Next
will give an added advantage to the city, being accommodating 60 million
passengers when operating next year, and will reach 134 million by 2042.
He
said that the industrial valley in the city is 55 km square meters. The
development of 12 km and 20 km under development has been completed. The
industrial valley consists of several areas including the technology area, gas
area, reexport zone, logistic services areas,
As
for the gas area established four years ago, Qutb said that we have value-added
and gas-based industries, nder a strategic partnership agreement with the
Ministry of Energy, Industry and Mineral Resources, companies wishing to obtain
gas, which are supplied at competitive prices, The
reexport areas are ready and expected to be presented at the end of this year
after completing the legal procedures. He pointed that the city administration
has allocated several areas of logistics services to factories on different
areas up to more than one million square meters, some
close to the port itself, as well as in the city, we
welcome any developer for this type of areas.
For
the industrial lands, Qutb said that the lands offered to investors are of two
types, some for rent and some are available for ownership provided that they
are within the city schedule and investment projects are built on them.
For
infrastructure services, Qutb said that with the exception of the electricity
provided by the Saudi Electricity Company and the telecommunications services
provided by two telecommunications companies, EEC provides all infrastructure
services such as water, sanitation and the like,
As
for the industrial sectors targeted in the industrial valley, Qutb stressed the
city keenness on attracting industries of continuity and added value to the
national economy, pointing to six sectors (consumer goods, pharmaceutical
industries, logistics, packaging, building materials, vehicles). With the vision of the Kingdom of
2030.
He
added that most of the industrial companies operating in the industrial valley
in the city achieve excellent profits and achieve high rates of Saudization,
some of them exceeded 70 percent, and aim to achieve the full percentage in the
coming years.
He
mentioned that 120 industrial companies (national, regional and international) attracted
28 companies that started the production
and marketing, 33 are in the process of construction and preparation and the
rest are on the way.
For
his part, Secretary General of Asharqia Chamber Abdulrahman Al Wabel said that
the industrial sector occupies an increasing importance in the national economy
as a locomotive for economic and social development and a fundamental pillar in
achieving our development goals in accordance with the vision of the Kingdom of
2030. It is also a sector with more employment and investment opportunities, and other economic sectors.
He
said economic cities are one of the sources of economic diversification and a
main source of job creation and reducing unemployment. It is also an infrastructure
for industrial integration and maximizing the added value of raw materials, as
well as a number of investment options that are easy to operate, diversified
and rapidly growing. The
Secretary General of Asharqia Chamber honored the guest with a memorial shield.
