Al Sihati: Industry is one of the main sources of economic diversification:
50 international companies under construction in the industrial valley in King Abdullah Economic City
CEO of the industrial valley in King Abdullah Economic City, Ryan Qutb said that the city is now attracting international companies in various specialties, which qualifies it to be one of the most important cities not only in the Kingdom, but also in the region.
This was in a working paper presented at the open meeting, which was held the day before yesterday (Monday, 30/05/2016)
Asharqia Chamber to talk about the industrial valley of the city, Qutb considered that King Abdullah Economic City as the new gateway to the region through its strategic location on the west coast of the Kingdom, and being near to Mecca and Medina, and being one of the five terminal stations of the Two Holy Mosques train that links Mecca Medina and surrounding cities.
He pointed that King Abdullah Economic City has been able through high flexibility in offering options to increase the number of companies operating at present to 24 international companies, while there are 30 companies under establishment, expecting the arrival of the number of companies under construction to 50 companies by the end of 2016, due to the diverse sectors available for investment such as, for example, the consumed goods and pharmaceutical and logistics services and plastic materials, building materials, automobile industries, noting the city's commitment to provide ideal solutions for lands and providing the appropriate environment for the realization of all current and future business needs through the industrial valley.
He mentioned that the industrial valley provides services for industrial investor in various forms that have been designed based on the needs of investors, as the valley includes several areas, including gas area which is located in the second stage and the supply of implemented natural gas projects, and the assembly area and reexporting, which are located near to the port and linked to it directly and is specialized in manufacturing the added value and logistic services.
Qutb pointed that the city is under a single administration which is the body of economic cities, that provides a business regulatory environment for the business sector, including the issuance of licenses and permits and meet all requirements of investors and the population of employees visas and provides expert labor of both sexes, with an ideal quality and speed. And according to that the executive director of sales and industrial valley Eng. Anas aljabri noted that the industrial valley has the advantage of the strategic location and availability of transportation network, a total and diversified solutions to the land and integrated city, confirming, the keenness on securing all necessary needs for the success of the investment growth,
He mentioned that the first stage of the Industrial Valley did not exceed 3.5 million square meters, which has been fully leased, while doubling the second phase 10-fold to 20 million square meters, it has at this stage to add another feature, which is the purchase other than the first stage which was limited to the lease, it has reached spaces sold to investors at this stage, 6 million square meters, and are currently working on the third stage and the fourth. The director of operations of the National Container Company Anas Al Samaili spoke of King Abdullah Port, said that it is the largest port in the Middle East. It has a deeper dock, and receives the largest cranes, and managed with the latest systems used in the international ports, as it is the first port financed by the private sector entirely, and has direct access directly to the motorway network, and works around the clock .. noting that the capacity for completing all the docks at the port will be 20 million containers a year, which makes it the most effective international ports in the region.
He said the cargo clearance time at the King Abdullah port is less than 50% with other Saudi ports, as it does not exceed 6 days versus 14 days in the other competing ports in the Kingdom, pointing that the port is strategically located to connect the east and the west and has the possibility of receiving the largest international ships thanks to a depth of up to 18 meters compared to 16 meters in other ports
For his part, the Council of Asharqia Chamber of Commerce member Najib Al Sihati said that the industry occupies an increasing importance in the national economy as an engine of economic and social development, an essential pillar in the achievement of our development goals and in progress with the Kingdom Vision 2030, explaining that the sector has more job and investment opportunities, and is characterized by its communicating and intervene with many other economic sectors.
He pointed to the economic cities, and he said that it is one of the economics of sources diversification, and an essential helper of job opportunities providing, it is also an infrastructure to maximize the added value of raw materials, as well as of what it includes of several investment options characterized with simplicity in its procedures and their diversity and their fast growth.
Al Sihati expressed the readiness of Industrialists to interact with all the propositions available and the opportunities offered by King Abdullah Economic City, which we believe will add to us as local investors, and also an added value for our national economy.
At the conclusion of the meeting, the Board of Directors of the Chamber member Najib Al Sihati has honored speakers.
