23/10/2015
Asharqia chamaber of commerce and eastern region Emara will organize “development projects, realty and aspirations.” forum
Next November under the sponsorship of crown prince Saud ibn Nayef
Asharqia chamber of commerce and eastern region Emara are preparing for “development projects, realty and aspirations.” The crown prince, Saud bin Nayef, the eastern region governor will sponsor it, and it will be held on Wednesday, November 4, 2015 in Asharqia chamber main offices in Dammam. Abdul Rahman Al-Otaishan, Chairman of Asharqia Chamber explained that this forum is a one-day forum, which aims to support the role of the private sector in contributing to the development in the region. Moreover, it aims to encourage the programs and events that contributes to develop the resources and economic means and enforcing the development role of them in the region. The forums also aims to attract more investments to the region as part of the kingdom’s development plans.
Al-Otaishan mentioned that the forum aims to focus on a number of strategic goals. On top of which is the importance of development projects and its role in the economic development. In addition, to review the most prominent and successful experiences of companies that have introduced successful projects, as well as reviewing the best means and to overcome any future problems. He mentioned that the kingdom of Saudi Arabia is witnessing huge development projects all over the country. These projects are part of the ninth development plan, which is supposed to be carried in 2012-2014. The assigned budget for this plan was approximately 2 trillion riyal. Many of the established projects include infrastructure, service and production sector projects.
The expenditure approved in the government budget for 2014, was around 855 billion riyal, which is a new record and indicates the government’s commitment to its development program to improve the infrastructure and construction as well as fuel the economic development and accommodate the escalating growth in population. The latest budget, which is approximately 248 billion riyal, included additional construction projects and programs, as well some additional stages for approved established projects.
Al-Otaishan mentioned that the construction section is considered one of the most important development sectors in the kingdom. It is considered the bone of many economic sectors and it is in itself an independent sector. The intertwined relation between this sector and the rest of the sectors means imposes its strategic role to the national economy, the economic development and employment. He said that many factors could affect the development projects in Saudi negatively. We can outline them as four main reasons: the organizational side (bidding and governmental expenditure), business owners, business executers (contractors), and the workforce. The forum would discuss the ways to overcome the difficulties that development projects might face by reviewing many approaches to overcome such issues.
