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Saudi Arabia Allocates Industrial Lands with Investments Exceeding $21 Bln

Jubail offers 100 investment opportunities with an estimated investment size of around $5.4 billion (SPA)
Jubail offers 100 investment opportunities with an estimated investment size of around $5.4 billion (SPA)
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Saudi Arabia Allocates Industrial Lands with Investments Exceeding $21 Bln

Jubail offers 100 investment opportunities with an estimated investment size of around $5.4 billion (SPA)
Jubail offers 100 investment opportunities with an estimated investment size of around $5.4 billion (SPA)

As part of its efforts to attract more local and foreign investments, the Royal Commission for Jubail and Yanbu in Saudi Arabia has allocated approximately 15.1 square kilometers of industrial land in its cities, with an investment volume exceeding SAR 80 billion Saudi riyals ($21.6 billion).

This initiative aims to double its investment size by 2040, currently estimated at around a trillion riyals.

It is anticipated that these investments in primary, mining, and transformational industries will generate over 16,000 direct job opportunities.

Eng. Khaled Al-Salem, the Chairman of the Commission, stated to Asharq Al-Awsat that these lands were designated at the beginning of 2023.

He explained that the Commission offers a multitude of investment opportunities, including those in the Jubail Industrial City, which presents over 100 investment prospects totaling more than SAR 20 billion ($5.4 billion), as well as in the Jazan Basic and Transformational Industries City, providing around 10 investment opportunities amounting to SAR 1.5 billion ($400 million) in both industrial and commercial sectors.

Al-Salem added that the available investment capacity in the Yanbu Industrial City is projected to exceed SAR 20 billion by 2025 and surpass SAR 100 billion ($26.6 billion) by 2040.

Furthermore, the investment opportunities estimated for Ras Al Khair Mining Industries City also exceed SAR 20 billion.

Regarding the pursuit of increasing the overall investment volume, Al-Salem emphasized that the Commission places significant emphasis on leveraging its success factors and the attractiveness of its cities for investments.

It aims to establish a seamless investment journey, with the total investment size in its cities already surpassing a trillion riyals by the end of 2022 and targeting to double that figure by 2040 according to its strategic plan.

Furthermore, the Commission aims to empower entrepreneurs, offering them training, technical consultations, and suitable investment options through its Industrial Development Centers, such as “ready-made factories” with low capital costs, enabling them to embark on their entrepreneurial journey.

Al-Salem revealed that the Commission has registered 16 projects led by 9 female entrepreneurs, with their investments estimated at around SAR 40 million ($10.6 million) in the cities of Jubail and Yanbu.

Addressing expansion efforts, Al-Salem explained that the Commission has a comprehensive plan for each of its cities, outlining the targeted industrial sectors and the planned development of lands over the coming years within its jurisdiction.

This approach aims to attract and foster industrial investments that contribute to enhancing Saudi Arabia’s position in various fundamental and transformative industrial sectors, aligning with the Kingdom’s national industrial strategy.

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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA

The Saudi Export-Import Bank (Saudi EXIM) hosted the Berne Union's Country Risk Specialist Meeting, providing a platform for experts and thought leaders in risk management from the export credit community.
At the meeting, which took place from November 19 to 21 in Riyadh, the attendees exchanged best practices to better protect the industry amid shifting global dynamics.
According to a statement issued by the Saudi EXIM on Saturday, the event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions.
By strengthening institutional resilience, the industry is ready to turn global economic challenges into opportunities for economic prosperity, said the statement, adding that it played a crucial role in advancing global trade, strengthening international cooperation, and developing credit solutions that empower export activities while controlling risk, SPA reported.
According to the statement, discussions centered on critical risks impacting international trade and the global economy, such as debt sustainability and geopolitical tensions, along with innovative approaches to risk modelling. Participants also explored the global shifts in infrastructure, energy and critical minerals sectors, and were given an overview of Saudi Arabia's National Industrial Strategy, which focuses on economic diversification through investments, developing new sectors, and promoting local industries.
In his opening remarks, Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb said the meeting is an ideal platform to address risks impacting global economic decision making.
He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively."
He also said that "at Saudi EXIM, we place great emphasis on risk management. In alignment with the main objective of this meeting, I am pleased to announce the completion of our independent country risk model, which is supported by advanced modelling tools and machine learning. This model will provide country ratings and predictions of default risks. We look forward to collaborating with our partners in other export credit agencies to exchange knowledge and expertise, and to strengthening our risk management functions with greater responsibility and effectiveness."
Associate Director at Berne Union Eve Hall said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex. Our industry excels at understanding, quantifying and pricing these risks, and by bringing together this community of experts for technical exchange the Berne Union is able to help support the development of the industry as a whole. The initiatives announced by our colleagues at Saudi EXIM, making use of new technology in risk analysis, provide a fantastic example of where collaboration in this field can be effectively applied."
The statement disclosed that Saudi EXIM's membership in Berne represents a significant strategic step, and is consistent with the Kingdom's commitment to expanding collaboration and integration in the global economy.
This is achieved by building partnerships with leading institutions to address the challenges facing the export credit sector. It also aligns with the bank's goal of developing the export of national products and services through partnerships with national and international financial and funding organizations.
Berne Union works with global trade organizations to encourage the adoption of best practices in export credit insurance, and to cooperate in maintaining the stability of global trade.
Saudi EXIM, a development bank under the National Development Fund, contributes to diversifying the Kingdom's economic base by improving the efficiency of non-oil export ecosystems, bridging financial gaps, and minimizing export risks. This plays a role in helping the non-oil national economy grow, in line with Vision 2030.