RIYADH, 15 January 2003 — Saudi industrial exports grew by 23 percent last year to reach SR30.7 billion, according to Minister of Industry and Electricity Dr. Hashim Yamani.

He estimates the total industrial investments in the country at about SR247 billion.

Addressing a ceremony marking the opening of seven new industrial projects here, Yamani emphasized three key factors to strengthen the competitiveness of Saudi industrial products in international markets.

“The creation of a suitable atmosphere for investment, the production of quality products using advanced technology and the developing capabilities of workers are these key factors,” he told the gathering.

The projects, which were commissioned yesterday by Riyadh Governor Prince Salman, were established at a cost of more than SR1 billion.

The new projects included a blanket factory of Al-Abdullatif Group, which was established at a cost of SR235 million, and a textile factory of Al-Obaikan Group.

Prince Salman also opened a national spinning factory of Abdullatif Group, a factory of Arabian Pipes Company and a factory of Medical and Beautification Products Company (SR300 million), and Abdullatif Training Center.

The governor earlier laid the foundation stone for the Duplex Carton Factory of Al-Obaikan Group. The project, which is estimated to cost SR500 million, will create 300 new jobs for Saudis.

Yamani disclosed plans to establish new industrial cities in Riyadh, Jeddah, Qassim, Al-Ahsa, Baha, Qurayat, Arar, Alkharj, Sudair, Zulfi and Dhuba. He said necessary land has been allocated for these projects.

“The government has given priority to establish industries in new areas to promote production and strengthen the economy,” he said, adding that new industrial cities would create more jobs and investment opportunities.

Yamani said the Saudi Authority for Industrial Cities and Technological Regions will provide better services to investors and strengthen the industrial sector.

Abdul Aziz Al-Athel, vice chairman of Riyadh Chamber of Commerce and Industry, said Saudi industries provide 320,000 jobs and contribute SR58.7 billion to gross domestic product (GDP).

He commended the efforts made by Prince Salman to supply natural gas for the industrial city in Riyadh.