Royal Commission for Jubail and Yanbu (RCJY) Khalid bin Mohammed Al-Salem confirmed the signing of SAR32 billion investment agreements in the industrial sector. 11 memorandums of understanding were also signed and a group of investment opportunities were presented. This will contribute to strengthening the industrial, logistical, and commercial sectors. It will create more than 7,000 jobs for young men and women in the Jazan region.
Jazan Investment Forum 2023
The agreements came following the participation of RCJY in the Jazan Investment Forum 2030. The forum was inaugurated by the Chairman of the Council of Economic and Development Affairs in Saudi Arabia, Prince Mohammed bin Nasser bin Abdulaziz, emir of the Jazan region also participated, under the patronage of Crown Prince Mohammed bin Salman bin Abdulaziz. Prince Mohammed bin Abdulaziz bin Mohammed bin Abdulaziz, deputy emir of the region was also part of the event thar was hosted at the Grand Millennium Hotel in Jazan.
Promoting economic growth in Jazan
Al-Salem stated that RCJY’s participation in the forum is part of its endeavor to enhance economic growth in the region. He pointed out the importance of Jazan for basic and transformational industries. It offers a great geographical location in proximity to European and African markets. It is worth noting that the first shipment of products to the United States came through the port of Jazan.
Moreover, Jazan is a platform for Saudi-Chinese investment, as it hosted the Kingdom’s first special economic zones. The zone area of 24 square kilometers supports transformative mining industries, transformative food industries, and logistics services.
Read: Riyadh Expo 2030 to generate over $50 billion for the Saudi economy
Attracting investments in the tourism sector
Al-Salem explained that the role of RCJY is to attract industrial investments. It also seeks to attract investments in the tourism sector and establish a solid tourism infrastructure. This paves the way for a new and developed tourism scene in the region. Notably, that is in cooperation with relevant government agencies and private sector institutions.
He stressed the commitment of RCJY to provide a safe, stable, and transparent environment for investors. Besides, it welcomes companies and businessmen wishing to explore investment opportunities in Jazan in basic and transformative industries. Moreover, Al-Salem stresses the commission’s support to ensure the success of projects and goals.
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