JEDDAH: FOUZIA KHAN
Tuesday 7 August 2012
Last Update 7 August 2012 8:05 am
The Business Development Center (BDC), an affiliate to Jeddah Chamber of Commerce and Industry (JCCI), is planning to launch seven small and medium enterprise (SME) projects created by a number of young entrepreneurs who are in search of partners and investors for their projects.
The center, headed by former JCCI President Saleh Al-Turki, will also support the young entrepreneurs, announced Aal’a bin Mahmood, director of the Business Development Center, Sunday at the JCCI headquarters.
Mahmood said the center represented the cycle of communication between the owners of businesses and investors.
The forum brings together investors for deals and partnerships with various business sectors, with the aim to facilitate the launch of new projects.
The director said the new entrepreneurs had created the seven projects after conducting studies, whereas the center had studied the projects’ economic feasibility for partners and investors.
“One of the initiatives that have been undertaken through the Business Development Center is to create an independent company with the contributions of employers with investment opportunities in Saudi Arabia,” he said. He said the center had also contributed to the establishment of a business development center in Taif with the same concept for Saudi youth. Similar project to provide investment opportunities are under construction in Qunfudah and Laith.
The Business Development Center in Jeddah is the first of its kind in the Kingdom, Mahmood said. It took initiatives to contribute to the development of the national economy by creating follow-up and conversion projects to transform small businesses into large ones. It also motivated large corporations to contribute and support these projects financially.
“With the adoption of new companies, it creates job opportunities and a favorable business environment in Jeddah,” he added.
Mahmood revealed that the center is supervised by an executive committee of successful business owners from outside the boardroom.
The Business Development Center promotes the development of projects in Jeddah, through which the investors benefit from experts, international experience and local communities.
It also provides basic instruction in cooperation with consulting firms and research centers for the development of businesses in Jeddah in particular and the Kingdom in general.
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