Riyadh - Amlak
The forum opens new horizons for investment and attracts more capital

The “5th Industrialists” Forum 2013,“ organized by the Eastern Province Chamber of Commerce under the title ”Investment Opportunities in the Manufacturing Industries of the Petrochemical and Metals Sectors,“ under the patronage of His Excellency Dr. Tawfiq bin Fawzan Al-Rabiah, Minister of Commerce and Industry. The forum will present a list of investment opportunities in the manufacturing industries within the (minerals and petrochemicals) sectors, which will be presented to participating industrial investors by a number of stakeholders and specialists, as well as representatives of major industrial companies—specifically those operating in these two strategic sectors, most notably the Saudi Basic Industries Corporation (SABIC).

Investment Prospects
Abdulrahman bin Rashid Al-Rashid, Chairman of the Chamber’s Board of Directors, described the patronage of His Excellency Dr. Tawfiq bin Fawzan Al-Rabiah, Minister of Commerce and Industry, for this event as an important addition and a driving force behind the forum, and a sign of the state’s interest—and Minister Al-Rabiah’s personal interest—in the industrial sector, given its importance in supporting development plans.

He added that the meeting—held at the Chamber’s headquarters in Dammam—aims to open up further investment opportunities, attract more capital, and create job opportunities for citizens, as a number of additional projects will be launched in these two strategic sectors, which are currently considered among the most important areas of national industry, with the Eastern Province serving as their hub—specifically the industrial cities of Jubail and Ras Al-Khair, which are home to a large number of world-class industrial complexes.He emphasized that the choice of these two sectors as the focus of this meeting stems from their importance and their comparative advantages, given the availability of their raw materials—which are mostly products of Saudi Aramco and SABIC—and which have the potential to increase the number of locally produced goods that rely on domestic raw materials as well.

Supporting the Industrial Sector
Al-Rashid added that the Eastern Province Chamber—represented by the Industrial Committee—has consistently organized this meeting to support and develop the industrial sector, using it to discuss key issues related to the sector, as part of the Chamber’s efforts, in coordination with relevant authorities, to develop the industrial sector. This stems from our belief in the importance of industry as a strategic choice to secure the future, and a serious and sound mechanism for achieving sustainable development goals, aimed at fostering further economic growth and development and investing in the Kingdom’s non-oil natural resources. He emphasized that directing industrial investment toward these areas adds value to the national economy by diversifying sources of income and establishing new projects that offer new goods and products, which in turn contribute to providing meaningful job opportunities for the Kingdom’s talent pool—which is growing day by day— as well as by creating business opportunities for small and medium-sized enterprises, which will play a major role in support services for these industries, such as sales and marketing.

The President of the Eastern Province Chamber of Commerce noted that the importance of this meeting stems from the Eastern Province’s status as the ”capital of Gulf industry,” and its geographical location, which is rich in natural resources and provides access to global markets as well as local ones, making it a region capable—God willing—of accommodating numerous mining and petrochemical projects. The tremendous development we are witnessing in this field represents successful steps on a long path of industrial investment; the region remains poised for further investment in various industrial sectors, as well as other supporting economic activities, as these opportunities give rise to yet more opportunities.

Investment Opportunities
For his part, Salman bin Muhammad Al-Jashi, a member of the Chamber’s Board of Directors and Chairman of the Industrial Committee at the Eastern Province Chamber, said that the meeting will provide a great opportunity to identify numerous investment opportunities that we deem necessary to pursue, and to work on transforming them into highly profitable projects that will drive further growth and development for the national economy and open new doors for local investors, especially those with small and medium-sized enterprises.

He added that industry is our most important strategic choice for weathering economic fluctuations, and it serves as the foundation for many economic sectors, which are like the “loyal children” of this sector, He noted that the Eastern Province is witnessing rapid industrial developments, including the launch of operations at the Third Industrial City, Ras Al-Khair Industrial City, and Jubail 2 and 3, in addition to other industrial cities in Dammam, Al-Khobar, and Al-Ahsa, All of these—as we know—reinforce the region’s comparative advantage as the most attractive destination for foreign and domestic investment, not only within the Kingdom but also across the Arabian Gulf; therefore, it is truly and rightfully the “industrial capital of the Gulf.”

Attracting the Workforce
He added that despite all the achievements on the ground in the Eastern Province—the results of which we witness daily in the industrial sector—opportunities still abound, fields remain open, and opportunities are too numerous to count—especially in the mining and petrochemical sectors, which are the focus of this meeting. The industrial sector remains the biggest employer and is a fertile ground for growth and development; there can be no development without industry, therefore, this meeting is one of a series of steps to support our national industry, which is moving with confident strides toward a world full of achievements.

Al-Jishi praised the efforts of His Excellency Dr. Tawfiq Al-Rabiah, Minister of Commerce and Industry, to develop the industrial sector. We hope these efforts will result in more services and development initiatives in industrial cities, which will benefit industrial projects.