King Abdullah Economic City to host third Time Forum

The forum will promote current and future investment opportunities in KAEC and review the city’s achievements. (SPA)
Updated 07 November 2017
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King Abdullah Economic City to host third Time Forum

JEDDAH: King Abdullah Economic City (KAEC) will host the third edition of the Time Forum on Wednesday. The investment forum will take place under the patronage of the Governor of the Saudi Arabian General Investment Authority (SAGIA), Ibrahim Al-Omar. The one-day event will be held at Bay La Sun Hotel & Marina in KAEC.
The forum will promote current and future investment opportunities in KAEC and review the city’s achievements. Encouraging investment in Saudi Arabia is an important part of Vision 2030, which aims to boost the non-oil sectors of the Kingdom’s economy and encourage the involvement of the private sector.
The value of the construction and development contracts awarded by KAEC since its inception has exceeded SR20 billion, most of which went to national companies. These investment contracts have played a major role in enabling the private sector to participate in social and economic development through the completion of advanced infrastructure, utilities and public services.
KAEC has also been responsible for logistical and industrial developments including King Abdullah Port, which has a capacity of 3 million containers per year, and the Industrial Valley, which has attracted more than 120 international and national companies.
KAEC is currently working on several projects in the tourism and leisure sector, in addition to the quality programs it offers to young people and entrepreneurs.
Through the Time Forum, KAEC intends to showcase a range of investment opportunities in a number of sectors including logistics, industry, tourism and leisure, real estate and housing development, health, and education.
Managing Director and Chief Executive Officer of KAEC Fahd Al-Rasheed stressed that KAEC enjoys great support from the Saudi leadership.
“We see the results of this tangible care every day on the ground. And in order to keep up with the aspirations of Vision 2030, we are offering today, through this important platform, a range of investment opportunities of more than $7 billion in several promising sectors,” said Al-Rasheed. “We look forward to strengthening the city’s economic status as an attractive environment for major national and international companies.”
Al-Rasheed added that the forum would be “a great opportunity to meet with the elite of our partners, to exchange views and ideas, and to review the achievements of the city in all areas and what it aspires to in the foreseeable future.”


Houthis targetted civilian facility in Najran with an explosives-laden drone, says Arab Coalition

Updated 21 May 2019
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Houthis targetted civilian facility in Najran with an explosives-laden drone, says Arab Coalition

  • Houthis also fired two ballistic missiles toward the holy city of Makkah and Jeddah on Monday

RIYADH: Houthi militants had tried to hit a civilian facility in Saudi Arabia's southern border province of Najran with a drone carrying explosives, the Arab Coalition supporting Yemen's legitimate government said on Tuesday.
In a statement carried by the Saudi Press Agency (SPA), Colonel Turki Al-Maliki, the spokesman of the Saudi-led military coalition said the target was a vital facility.
"The Houthi-backed terrorist militia of Iran continues to carry out acts of terrorism that pose a real threat to regional and international security by targeting civilian objects and civilian facilities, as well as civilian citizens and residents of all nationalities," Al-Maliki said.

The statement did not mention casualties and gave no further details.

Earlier on Monday, Al-Maliki said Houthis fired two ballistic missiles toward the holy city of Makkah and Jeddah but both were shot down by Saudi air defense forces.

The Iran-backed Houthis have fired dozens of missiles at targets in Saudi Arabia, including the capital Riyadh, since the Arab Coalition intervened in 2015 to restore the government of President Abed Rabbo Mansour Hadi, which was ousted in a Houthi coup.