An invitation to the private sector to invest in the huge economic transformations and the promising opportunities presented by Vision 2030

An increase of 54% in the number of foreign companies investing in the Saudi market.

27% of government purchases from small and medium enterprises.

In the presence of His Excellency the Governor of Al-Jubail, Abdullah bin Nasser Al-Askar, the Deputy Chief Operating Officer of SABIC Abdul Rahman Al-Faqih, and a member of the Board of Directors of the Asharqia Chamber and the Foreign Investment Committee Saadoun bin Khaled Al-Atish Al-Khaldi. The activities of the fourth day organized by the Chamber in cooperation with SABIC were launched yesterday within the activities of SABIC Forum 2020, with wide participation in the authority of King Abdullah Al-Hadari in Jubail.

Al-Khaldi pointed out that the Kingdom’s vision 2030, embodied a road map towards a comprehensive future national development, and charted, under the guidance of its rational leadership – an ambitious progress path, on many aspirations in various sectors, including the investment sector that comes on the list of vision priorities and purposes, and opened the doors of investment in various fields, the obstacles that limit its playing a greater role in the development process were removed, and it continued to develop and activate the legislative and procedural system related to markets and businesses until the Kingdom became one of the first countries attracting investment.

In the first session of the fourth day, which was run by the Secretary-General of the Banking Information and Awareness Committee in Saudi banks, Talat Hafez, speakers stressed that the investment environment in the Kingdom has a positive trend, and is moving in an upward direction, supporting local and foreign investments, and providing promising opportunities for all sectors, small and large enterprises, The transformations require the private sector to take more initiative and take off.

For this part, Deputy CEO of Petrochemicals of SABIC Abdul Rahman bin Saleh Al-Faqih said that the future of investment in the Kingdom is promising, given the country’s investment environment that may be unique and abundant with many opportunities, the most prominent of which are the major projects that are developing in an accelerating manner, and that are moving towards technology localization and creativity he pointed out that SABIC acquired 12 thousand patents, and managed to localize 25 technologies, all with national hands that contributed and contributed to support our local investment .. Stressing the company’s keenness to provide a supportive environment for all activities supporting the Vision 2030 and achieve the aspirations of rational leadership in delivering Lek to the highest ranks, especially in the economic aspect.

On this part, Deputy Governor of the General Authority for Investment Services and Investors, Ibrahim Al-Suwaiyel said that attracting local and foreign investments is one of the most important goals of Vision 2030 and the authority seeks to help investors obtain opportunities and partnerships and launch new projects, and we witnessed in the past year an increase in the number of foreign companies by 54%, which is what It did not happen within ten years, as more than 1000 foreign companies entered the Saudi market. Noting at the same time that the authority directly supports the local investor, specifically small and medium enterprises, and several measures have been taken in this regard, including shortening the requirements for water Allocating by half and open partnerships with external investors, as well as procedures and forms of support carried out by the authority for local and external investors.

As for the CEO of the National Industry and Logistics Services Development Program, Suleiman Al-Mazrouh has made it clear that this program is one of the country’s ambitious programs, aimed at moving all forces and capabilities to achieve the vision … explaining that the program focuses on the natural resources and geographical location of the Kingdom, and works to provide the environment to enable industrialists For more innovation, it provides a range of financial and non-financial incentives to develop the targeted sectors of industry, mining, and logistics, and support the fourth industrial revolution in the country.

While the Secretary-General of the Saudi Export Authority, Engineer Saleh Al-Salami, stated that the goal of the authority is to raise the contribution of non-oil exports to the gross domestic product from 16% in 2015 to at least 50% in 2030, and this, of course, requires more effort .. explaining that the authority is working to develop exports Direct and re-export and export services, and in order to get to the position of domestic exports better in global markets, we must work to find a manufacturing industry with competitive value in global markets, which require the Saudi product, which has a good reputation, Praising the step of launching the export bank, which will solve the financing problem in the issue of exporting Saudi products, especially since the bank has 18 products, including direct financing.

For this part, the governor of the Saudi Commission for Small and Medium Enterprises, Engineer Saleh Al-Rasheed, said that the strategy of the authority is to build a promising environment for small and medium enterprises and that these establishments have a high growth and high revenue, and this is all done by financing these facilities, their delivery, and their products to external markets, and protecting these Establishments and their continued performance, and some goals have been achieved, as the government is getting 27% of its needs from small and medium enterprises, and 6% of bank financing is directed to these establishments … stressing that the higher goal of the authority is to consolidate the business culture in Saudi society.

In the second session, which was held under the title “Opportunities, Challenges, and Solutions for Small and Medium Enterprises,” and was moderated by a member of the Business Council of the Eastern Chamber of Jubail Fahd Al-Mishal. The biggest difficulties facing the sector are exploring investment opportunities

Moussa said that strong industry necessitates building a strong logistical network “and this is what we seek, as we designed a program that aims to develop a large logistical network that contributes to supporting the industrial sector,” pointing out that the new industrial specialties need qualified Saudi cadres to accompany this development in the disciplines.

On investment, Moussa explained that the investment process needs to develop the financing process to keep pace with the goals of the Kingdom’s 2030 vision and to develop a working mechanism to reach high levels in the ease of doing business and investment, and he said that the support and sufficiency program and other support and empowerment programs support the state’s directions aimed at empowering entrepreneurs and investors.

For this part, Chief Executive of the National Program for the Development of the Fish Resources Sector, Dr. Ali Al-Sheikhi, stated that fish farming represents the ideal and appropriate solution to compensate for the extravagance in the fisheries, pointing to 15 ready investment opportunities on the Red Sea coast, pointing to the program aimed at producing 100,000 tons in the year 2020, Down to 600 thousand tons in the year 2030.

For this part, Director-General of Investment Development at the Royal Commission in Jubail, Dr. Ahmed Al Hassan said that there are many investment opportunities in various sectors, including building cities and model neighborhoods in addition to the opportunities in the logistical sector, explaining that the authority has allocated 160 hectares to attract innovation and research centers, and 165 hectares for SME’s.

Al-Hassan indicated that a number of promising investment opportunities for SME’s in the city of Ras Al-Khair specialized in mining, stressing that the authority has paid attention to entrepreneurs by turning their ideas into projects in coordination and support from the Social Development Bank.

Source: Asharqia Chamber