More than 500 Saudi and foreign business leaders are expected to attend the Jazan Economic Forum that would showcase investment opportunities at Jazan Economic City and Jazan Industrial City. Gov. Prince Mohammed bin Nasser will open the two-day forum on Wednesday.

In a statement on the occasion, Prince Mohammed said the forum would boost domestic and foreign investment in the region. “It coincides with the establishment of Jazan Economic City and Jazan Refinery,” the governor said.

He added: “This is the first such economic event in the region after Custodian of the Two Holy Mosques King Salman ascended the throne.” The Saudi government aims to achieve balance growth for all regions.

Speakers include Prince Sultan bin Salman, president of the Saudi Commission for Tourism, Petroleum and Mineral Resources Minister Ali Al-Naimi, Labor Minister Adel Fakeih, Commerce and Industry Minister Tawfiq Al-Rabiah and SAGIA Gov. Abdullatif Al-Othman.

In a press statement, Al-Rabiah said Saudi businessmen and businesswomen have shown tremendous interest in the forum and investment opportunities in Jazan. “The forum will help them to take right investment decisions,” he added.

Speaking about the 39-million sq. m. industrial city in Abu Areesh, he said the Saudi Industrial Property Authority (Modon) has invested SR375 million to develop its infrastructure. At present there are 29 industrial and four service projects in the city, he said.

Al-Rabiah urged businessmen to take part in such forums where industrial and trade experts would be presenting research papers. “These forums are important as they help exchange of information and ideas and establish partnership between public and private sectors to bring about qualitative development the Kingdom’s regions,” the minister said.

Al-Rabiah described Jazan Economic City as one of the major government projects to boost regional development, adding that it would create huge investment and employment opportunities.

Covering an area of 106 sq. km, JEC occupies a strategic coastal location approximately 70km from Jazan City in a region known for its abundant natural resources.
The vision is to build JEC on a diverse platform of heavy, medium and light industries, and a high quality of life that attracts and retains competitive companies and a dynamic work force. JEC is expected to create more than 75,000 jobs over a period of 15 years. 

Jazan Deputy Gov. Abdullah Al-Suwaid inspected preparations for the forum on Tuesday including the exhibition to be staged on the sidelines of the event on investment opportunities in the region. The exhibition will have pavilions of the Jazan Economic City and Jazan Refinery.

The forum will have five sessions. The first session will focus on Jazan investment climate: Incentives, catalysts and global outlook, and will be moderated by Fahad Alturki, chief economist, Jadwa Investment. The second session will focus on Jazan Economic City: Vision, strategy and value proposition, with Khalid Alskait as moderator.

The third session will shed light on pioneer investors and Abdulelah bin Abdulaziz Alsheikh will be the moderator. Leveraging public-private partnerships will be the topic of the fourth session, to be moderated by Saleh Al-Nazha. The fifth session will focus on mining opportunities and be moderated by Khalid Al-Ohali. Sultan J. Shawli, deputy minister for mineral resources, will be the keynote speaker and will highlight mining investment opportunities in Jazan and adjacent regions.