The CEO of the Royal Commission for Jubail and Yanbu, in Yanbu, Dr. Alaa bin Abdullah Nasif, confirmed that 10% of the world’s petrochemicals are produced in the Royal Commission’s cities, and that the industrial cities of Jubail and Yanbu currently contribute more than 10% to the gross domestic product.
Naseef noted that the annual growth rate of private-sector investments in Yanbu Industrial City is accelerating significantly, noting that Yanbu Industrial City is one of the ideal destinations for foreign direct investment. He added that over the coming years, 80 billion riyals will be invested, bringing the total investment in the city to 230 billion riyals, Yanbu Industrial City will also become the Kingdom’s industrial capital over the next 10 to 15 years, as the Royal Commission and its industrial partners will work to invest heavily in 64 projects through 12 initiatives, Five of these initiatives are in the field of industrial development, three are aimed at providing world-class facilities for the residential area, and four will strengthen our position and reputation as leaders in renewable energy and innovation.
The CEO of the Royal Commission for Yanbu, during his patronage of the first annual forum for the colleges and institutes sector in Yanbu Industrial City, that this rapid growth requires the development of more basic infrastructure in the fields of education and training to provide support and assistance to strategic sectors, To address this, the Royal Commission will build its competitive strength in institutes and technology and will seek global partnership opportunities to increase the number of graduates from its four technical colleges, He noted that the Royal Commission’s colleges and institutes have established an economic system to develop and enhance the capabilities of students and staff to meet industrial needs, adding that “we at the Royal Commission in Yanbu are working to bring about a qualitative leap in the institutes and colleges sector to create a competitive industry.”