The President of Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khalidi, expressed his optimism about the economic situation in the Kingdom by saying, " The Kingdom is witnessing significant developments towards diversifying its bases and achieving high growth rates year after year."
The National Industrial Development and Logistics Program, which launched on Monday, January 28, 2019 by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, Minister of Defense and Chairman of the Council for Economic Affairs and Development.
He stressed that the Program comes in the forefront of the programs of the Vision of the Kingdom of 2030, as it is considered as a significant development in the march of the national economy that bears strong indications of the leadership's determination to achieve the Vision and ambitious goals.
Integration of sectors
Al-Khalidi said that the program is a realistic embodiment of the idea of integration of governmental and private sectors that enhances the role of the local component in national industries and drives the sectors (industry, mining, energy and logistics) to levels of positive impact in the national economy.
It signals more investment opportunities for domestic and foreign investors alike, which is in the achievement of the objectives of the Vision and aspirations that is transforming the Kingdom into a global industrial and logistics platform.
He congratulated the economic sector by launching the program.
He also commended the wise leadership's decisions that to strengthen the rules of the national economy.
Moreover, the board member and chairman of the Industry and Energy Committee in Asharqia Chamber, Ibrahim bin Mohammed Al-Sheikh, said that the program considered as a pioneering step in strengthening the national industries and paving the way for the development of quality industries that reflect their effects on the citizen, as the head and development of the business sector, while at the same time, boosting non-oil exports and opening up national labor forces to more jobs.
Accelerate the pace of business completion
Al-Sheikh stressed that the idea of holding direct meetings through (Chambers of deals) between those interested in investment opportunities and the business sector, who are wishing to invest, will facilitate investment procedures and accelerate the pace of business completion.
He pointed out that the Program aims to develop the industries associated with oil and gas and the settlement of promising industries and raise the proportion of local content in non-oil industrial sectors through opening the way for local manufacturers to many investment opportunities, especially with the program offered to more than 65 unique investment opportunities that are ready for development, with the value of 80 billion riyals.
Economic circles
Bandar bin Rafi al-Jabri, a member of the chamber's board of directors and head of the Logistics Committee, said that the Program is a realistic translation and quick response to the initiatives and ideas that have long been traded in the economic circles that is in line with the objectives of Vision 2030 and the National Transition Program 2020.
The Vision aims at transforming the Kingdom into a global logistics platform through which it flows to and through it the global trade because of its unique geographical location linking the three continents of the world (Asia, Africa and Europe).
He praised The National Industrial Development and Logistics Program and its services of the incentives and paths and the possibilities of several financial or procedural support.
He encouraged the private sector in general and the logistics sector in particular to improve its logistics performance through emphasizing its role in the national economy as a strategic partner in development.
He stressed that the Program supports efforts to diversify the economic base and achieve optimal utilization of available resources and indicate further progress in the establishment of economic development projects.
A major industrial state
The member of the Board of Directors of Asharqia Chamber and Vice-Chairman of the Industry and Energy Committee, Salah bin Abdul Hadi Al-Qahtani, considered the launch of The National Industrial Development and Logistics Program as the first step in transforming the Kingdom into a major industrial state and a global logistics platform.
He said, "The program is relevant to the Vision of the Kingdom of 2030 and supports its objectives to diversify the base of the national economy and optimize the exploitation of the resources owned by the country."
It promotes the strengthening of economic cooperation between the Kingdom and many partners in the neighboring countries of the region and achieve greater attraction for foreign direct investment, as well as supporting the strengthening of the local component in national non-oil industries, improving the performance of logistics centers as well as local, regional and international linkages to trade and transport networks.
Significant impact
Abdulrahman bin Sulaiman Al-Suhaimi, member of the Board of Directors of Asharqia Chamber and member of the Industry and Energy Committee, said that what was announced during the launch of the program from the signing of agreements about 235 billion riyals, and the programs, initiatives and investment opportunities were promising to the private sector as well as its direct and indirect objectives.
In fact, it puts the Kingdom on the path of the Fourth Industrial Revolution,
He stressed that the Program will have a tangible and rapid impact on improving the national economy and increase employment opportunities to the national labor forces.
Thus, the private sector has an opportunity to benefit from the number of projects launched through the Program.
