Asharqia Chamber launches Khafji Investment Forum amid a large presence of officials, business sector and investors

Under the patronage of His Highness the Prince of the Eastern Region in the Cultural Center of the Governorate, Asharqia Chamber launches Khafji Investment Forum amid a large presence of officials, business sector and investors.

-Al-Khalidi: Investment comes to our national priorities and the Kingdom has provided

Catalysts to encourage domestic and foreign capital.

On behalf of the Prince of the Eastern Region His Royal Highness Prince Saud bin Nayef bin Abdul Aziz, the Chairman of the Board of Directors of Asharqia Chamber Abdulhakim bin Hamad Al-Ammar Al-Khalidi opened Khafji Investment Forum, which is organized by the Chamber in strategic partnership with Aramco Gulf Business in Khafji and the Eastern Province Secretariat, and in the presence of a number senior officials and the business sector in Khafji and specialists.

Al-Khalidi stressed, during the meeting that was attended by the governor of the province of Khafji Mohammed bin Sultan Al-Hazza, that the event is trying to uncover and show the investment identity of the province of Khafji and its capabilities and attractive elements of investment as being a distinct province in its location, resources and its people.

Al-Khalidi explained, during the Forum that was attended by the Deputy Chairman of the Chamber Hamad bin Mohammed Al � Buali and members of the Council Ibrahim bin Mohammed al-Sheikh and Saadoun bin Khalid al-Khalidi, that investment has great economic value in both by adding productive potential, productive assets, its development role, diversifying services, as well as providing opportunities for our people.

The importance of this Forum is that investment is important, which is a subject that comes to our national priorities, as the Kingdom introduced the incentives of all kinds.

Also, the laws were promulgated, and procedures facilitated and established organs, specialized management for the promotion of domestic and foreign capital to provide investment in all regions.

Al-Khalidi said that the Kingdom is taking serious steps and achieving tangible successes towards with its historical transformation in diversifying its economic base, which represents investment as a major focus.

Therefore, infrastructure has been placed at the top of its spending priorities and embarked on the implementation of economic restructuring mechanisms, as it is considered as the best methods that attract investments, strengthen regional economies and reveal their stocks investment in various sectors.

Al-Khalidi pointed out that the Eastern Region is witnessing a major economic boom and active movement at various levels and in all fields, which requires us all to work on developing tools and practices to reach our Vision’s objectives for the future.

“We look forward to what Khafji has to offer as a distinctive investment. Therefore, this Forum will be favorable to reveal what is inside this province of promising investment opportunities, and that its work would benefit the region and the people from the province of Khafji,” he added.

For his part, the chairam and chief executive officer of Aramco for Business Gulf of Khafji Engineer Azab bin Mohammed Al-Qahtani said that he is waiting of how Khafji is going to play a pivotal role due to its interrelationship between industrial areas in the Kingdom in the frame Vision 2030 Al Khafji, especially Jubail, Ras Al-Khair and King Salman Energy Park (Spark), and emerging markets externally.

All hopes are bound to turn Khafji to the clean power generation center to contribute to the transformation of the Kingdom from a provider for the year of conventional energy, such as raw hydrocarbons, to the supply center for powered directly and maximize the value added of our oil resources by expanding it locally to specialized chemicals and consumer products with the aim of external export and increased raw material outlets.

Al-Qahtani explained that the province of Khafji can add to the privacy of its site a direct point of conversion of food from its plant and animal sources and manufacturing center for food and agricultural clubs on its western border that lies the best grazing places and centers of livestock market, and south to spread agricultural areas and east we concentrate the most famous areas

For Fishing.

In addition, the province of Khafji is one of the tourists a ttractive destinations due to the beauty of its coast and the nature of its land.

The number one element in the distinction Khafji and activate its role is its people that are diverse in their ability to understand and multiply their talents and the strength of their will and more importantly their loyalty for their country and their absolute loyalty to their leadership.

“We in the company are aware of our pivotal role that we look forward to maintaining our leadership position in driving development in Khafji. We have begun and even strengthened it to keep up with the accelerating pace of progress in our precious country,” he added.

For his part, the Chairman of the Chamber of Business Branch Khafji Hussein bin Ali

Al-Anzi said that Khafji was not far from the consequences of the spending policies of our good government, but it is in the top priorities of the government, as being next to its environment motivating projects.

It has a distinct geographical location and urban and residential steady growth.

Khafji also enjoys a variety of governorates in the Eastern Province with the readiness of its economic sectors, where tourism and commercial projects, real estate, manufacturing and many others including those projects of promising opportunities that characterized by high profitability and job opportunities for Saudi youth, which is making it a province with special investment characteristics.

Al-Anzi pointed to the volume of current and expected investments that Khafji enjoys, which is a real opportunity for domestic and foreign investors.

For example, Khafji owns a number of investment components that includes several factories and has one of the most important outlets of the Kingdom of the wild for the international road linking the countries through the Arabian Gulf, as some of them from Kuwait north to Amman to the south, in addition to its mining activities and the presence of oil extraction and refining plants on land and on the sea.

Assistant Undersecretary of the Municipalities for Technical Affairs of the Municipality Ziad Abdulkarim Al-Suwaidan said that Khafji enjoys a privileged position as a gateway in the segment at north-east of the Kingdom and its proximity to the borders of Kuwait, and it has one of the projects of the Saudi economy giant Aramco.

It also leaps on everyone that it has the beauty of its beaches and its maritime facade, which is one of the tallest facades maritime in the Eastern Province.

The Municipality of the Eastern Province has therefore been given a municipality

Khafji and its affiliated villages have the attention they deserve, where Khafji Municipality oversees currently 15 development projects for the development of waterfront and infrastructure projects with a total value of over seventy-eight million SR.

The Secretariat has determined that Khafji will be one of the most beautiful cities on the coast of the Arabian Gulf and to be as a lighthouse of development and urbanization in the Eastern Region.

He explained that the development and improvement of infrastructure and beautification of cities is the most important requirements for creating attractive and sustainable investment opportunities in order to exploit Khafji Governorate’s characteristics as it is unique in its composition between the coast and the desert that is making it on a highly important and promising area for successful and promising investments.

This increased revenues from investment revenues and services Khafji Municipality by more than 30% in the last two years only one aspect of investment attraction and tangible progress in economic activities.

“We expect more as construction projects are completed. These funds will be allocated to support the operation and maintenance programs,” he said.

This is an additional incentive for the Municipality to offer more investment opportunities for investors.

After the end of the opening ceremony, Al-Khalidi presented memorial plaques for the governor of Khafji province as well as for partners, sponsors, chairpersons and speakers.

-Al-Suwaidan during the dialogue session conducted by the Board Member Al-Khalidi

A prospective investment plan embraces light industries in Khafji that aims to promote a business entrepreneurship initiative

During the dialogue session chaired by Board Member Saadoun bin Khalid Al Khalidi, the Assistant Undersecretary of the Municipalities for Technical Affairs of the Eastern Province Secretariat, Eng. Ziad bin Abdulkarim Al�Suwaidan talked about the investment scheme embraces light industries in the province of Khafji in support of investment in the province.

He stressed the incentive plan to support young entrepreneurs through the dissemination of the “Sanaah” Initiative, which comes in partnership between the Secretariat of the region and Asharqia Chamber to provide industrial land at nominal prices similar to what was put in the city of Dammam.

Al-Suwaidan said the regional secretariat had received many innovative ideas from the country’s young entrepreneurs.

He pointed out that the investment agency in the Secretariat rephrases those ideas to be presented as opportunities in the future.

Al-Suwaidan explained that the Secretariat welcomes any effort to coordinate between the relevant bodies, most notably the Municipal and the Municipal Council, in addition to the Business Council of Ashariqa Chamber’s Branch in Khafji to stimulate the business sector and come up with initiatives and ideas, “we make investment opportunities to support the province of Khafji.”

Al-Suwaidan pointed out that the Gulf citizen is treated like Saudi in the security and municipal services.

He stressed that the Gulf citizen has full rights to invest and start business within the framework of the Gulf Cooperation Council.

On the list of investments in the Ministry of Rural and Municipal Affairs, Al-Suwaidan explained that the list was amended through the views received by the Secretariat, in addition to the various meetings held by the Secretariat to know the views and proposals of the business sector in order to develop the regulation commensurate with the current circumstances.

He pointed out that the government apparatus is always benefiting from the new ideas that it attracts from the business sector, which is always keen on cooperation and coordination from the secretariat for making changes in projects and procedures commensurate with the new phases of the region.

-During the first session:

37 opportunities in the tourism sector, nutrition and entertainment and 18 investment projects

In the 1st session, which was chaired by Khafji Business Council member Dr. Rashid Tahoos AlJa’iri, the speakers highlighted the investment opportunities and the role of the parties in supporting the business sector.

The Director General of the Saudi Commission for Tourism and National Heritage in the Eastern Province Eng. Abdul Latif Al-Bunyan said that Khafji Governorate has a variety of tourist elements in terms of beaches and its extensive range of other beaches, and Khafji Creek is the second largest creek in the Arabian Gulf.

Al-Bunyan pointed to the presence of the sulfur eye, the island of Amouda and the park, which is considered one of the most magnificent and famous elements for a long time.

He pointed out that these elements supported by the trade and tourism exchange with the State of Kuwait.

On the most promising projects for the province of Khafji, Al-Bunyan explained that there are various projects within the Commission’s plan such as the Heritage Market Project, equestrian schools, Ice and water amusement parks, tourist accommodation sector services companies, diving training centers, heritage works, shooting Club, floating hotels, beach playgrounds and an underwater glass museum.

Al-Bonyan added that the Comission has an electronic transformation to benefit from its services, where beneficiaries can benefit from the electronic procedures in terms of residential accommodation licenses and miscellaneous services.

The Director of Alternative Financing Solutions in the Small and Medium Enterprises Authority Abdulmohsen Bin Jafal talked about financing the SME sector as a priority for the Vision of Saudi Arabia 2030 by providing innovative financing solutions that help entrepreneurs get financing.

He pointed out that the Authority continues to support entrepreneurs through programs that meet their needs in coordination with SAMA and benefit from the guarantee program to ensure working capital as well as financing solutions with banks.

Ben Jaffal said, “We are working to raise the awareness and financial culture of entrepreneurs by finding solutions and tools to help them obtain funding and benefit from the feasibility studies and services provided by the Authority and to find new opportunities through an ambitious program.”

He pointed out that it is possible to benefit from the full technical services provided by the Authority without the need to review them.

The mayor of Khafji, Engineer Mohammed Al-Humaidani, announced 37 investment opportunities in the tourism sector packed by hotels and commercial malls and also in the food and entertainment sector, in addition to 18 investment projects that include the construction of a marina area of 85 thousand square meters, a water city, a recreational city and 7 new gas stations that will be built on Dammam Road.

Al-Humaidani also reviewed the ready-made plans for investment opportunities, which will be launched soon in Khafji province in different places.

-Second Session:

An industrial city in Khafji with an area of 67 million square meters

The second session was etitled, “the role of industry and logistics in supporting investment in the province of Khafji” and was directed by a member of the Board of Directors of the Chamber and Chairman of the Industry and Energy Ibrahim Mohamed Al-Sheikh.

The Assistant Chairman and Chief Operating Officer at Aramco Gulf Business Ibrahim Abdulrahman Al Dosari said that the company, in addition to its role in oil production in Khafji, plays its role in social responsibility for the development of the region, which is unsustainable and limited at the moment that we seek to be.

The company has established a number of schools in addition to a typical neighborhood integrated services and equestrian club.

It is currently contracting with the Office of Engineering Consulting to study the appropriate location for the establishment of marina Yacht “Marina” on the Corniche of khafji in coordination with the Municipality of the province, as well as a special area for some suitable activities at the waterfront.

The deputy head of the Public Transport Authority of the rail transport sector, Engineer Mohammed Al-Shabrumi said that Khafji comes within the railway project of the six countries of the Gulf Cooperation Council, which will be established along the length of 2117 km, including 660 km inside the Kingdom.

The construction of 187 km within the national railway network between Ras Al-Khair, Jubail and Dammam has been completed.

The second phase of Ras Al-Khair to Al Khafji will end with the border with the State of Kuwait with a length of 150 km.

According to planning, Khafji will be an integrated logistics area in the future.

Director of Product Development, Studies and Logistics at the Industrial Cities Authority, Abdul Mohsen Al Salem, said the Authority is the development arm of industrial and logistic areas in the Kingdom, where it has developed 35 industrial cities so far.

He pointed out that Khafji will have an industrial city and the project in its final stages in coordination with the Eastern Region Secretariat with an area of 67 million square meters.

The head of the credit team at the Saudi Industrial Development Fund, Alwaleed Al-Awaji, said that Khafji governorate is one of the promising governorates.

The Fund has allocated advantages for the other governorates and major cities, where the proportion of financing for industrial projects to 75% of the cost of the project with a longer repayment period and less requirements.

Source: Republic of Cyprus, Ministry of Foreign Affairs