12/10/2010
Minister of Trade and Industry sponsors today forum of financing the industrial projects in Asharqia Chamber
Organized by Asharqia Chamber in cooperation with the Federation of Gulf Chambers
Aims to find funding sources for the industrial projects in the GCC countries.
19 speakers discussing the financing alternatives within 4 sessions
Al Rashid: The Minister care gives such a significance to the Forum
Al Jishi: Participants will discuss many of the issues clearly
Taqi: Helping investors in formulating their strategy based on a clear elements
Al Wabel: The forum aims to introduce the industrials with funding mechanisms and the requirements
Under the auspices of His Excellency Minister of Trade and Industry Abdullah bin Ahmed Zainal the Forum of financing of industrial projects in the GCC countries, organized by Asharqia Chamber in cooperation with the Federation of Gulf Chambers on next Tuesday, October 12, 2010 at chamber headquarter in Dammam.
The forum aims to introduce the Industrialists in the GCC countries on the requirements and mechanism of funding the industrial projects and the facilities granted by the funders in the public and private sectors.
Representatives from each company Saudi Basic Industries Corporation (SABIC) , Saudi Industrial Development Fund, the Centennial Fund, Industrial Bank of Kuwait, Oman Development Bank, the Gulf Organization for Industrial Consulting, and SABB (HSBC).
Al Rashid explained that Gulf countries have sought over the past ten years in raising the rates of industrial production, which adds value to the economies through the provision of employment opportunities and achieves competitive advantage with global markets and become a financier of many of the giant industrial projects based on oil derivatives.
He thanked the forum sponsors who contributed in supporting the activities of the forum whom are: Saudi Investment Bank ,Zain Telecom, National Commercial Bank , Mediterranean Group and Al Jumaih Holding ,Saudi pipes SSP , Saudi Transformers Company, Al-Eqtissadyah newspaper ,Al-Ayam Bahraini newspaper ,Al Jazeera Newspaper, CNBC Arabic Channel.
Al Jishi who explained Zainal's interest in this sector is evident in the industrial Stratigic approved by the Council of Ministers recently and aspirations attached to the sector in advancing development which contribute to the diversification of sources of income not on the level of the Kingdom, but also on the level of the Gulf.
The Secretary General of the Federation of GCC Chambers of Taqi Abdulrahim said that the forum is a valuable opportunity to meet with all relevant agencies to analyze the current reality of the industrial sector, and make the necessary recommendations.
Furthermore, Abdulrahman bin Abdullah Al Wabel the Acting Secretary-General emphasized that the forum aims to introduce the industrialists in the countries on the requirements and mechanisms of funding the industrial projects in the GCC countries and the facilities granted by the funders in the public and private sectors.
Also Saudi Basic Industries Corporation (SABIC) who reviews a number of important themes as part of its participation as the Vice President for Financial Affairs Fawaz bin Mohammed Al Fawaz discusses the key success factors for industrial projects and credit rating and its importance.
