Ras Al-Khair attracts investments worth more than $26bn

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The SAR100 billion comes from the public and private sectors including the phosphate, aluminium, copper, zinc and iron industries. (SPA)
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The SAR100 billion comes from the public and private sectors including the phosphate, aluminium, copper, zinc and iron industries. (SPA)
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The SAR100 billion comes from the public and private sectors including the phosphate, aluminium, copper, zinc and iron industries. (SPA)
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The SAR100 billion comes from the public and private sectors including the phosphate, aluminium, copper, zinc and iron industries. (SPA)
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Updated 25 December 2019

Ras Al-Khair attracts investments worth more than $26bn

  • The construction of an industrial port and desalination plant has aided the development of Ras Al-Khair

RIYADH: Industrial development plans in Ras Al-Khair Industrial City have contributed to attracting investments amounting to SAR100 billion ($26.67 billion), the Saudi Press Agency reported.

Ras Al-Khair is a sprawling complex located on Saudi Arabia’s northeastern coast. It includes a port, a power plant for desalinating water and producing electricity, in addition to a railway line linking the complex to bauxite and phosphate mines.

The Royal Commission for Jubail and Yanbu has been tasked with developing and managing mining industries in Ras Al-Khair, as well as setting targets and creating future expansion plans with partners to establish a city for mining industries.

The SAR100 billion comes from the public and private sectors including the phosphate, aluminium, copper, zinc and iron industries.

Saudi Arabia wants to diversify sources of income and exploit mining resources as  just 3 percent of these have been tapped in the Kingdom. It also wants to create an estimated 91,000 job opportunities once the entire industrial zone is completed, an area of ​​179 square kilometers.

The first stage of the expansion strategy included building a phosphate industry complex, putting the Kingdom on the map as a major supporter of food security and the second-largest supplier of phosphate fertilizers to agricultural countries. The expansion strategy also featured building an aluminum complex which will be the foundation for many manufacturing industries, including engines and auto parts.

The construction of an industrial port and desalination plant has also aided the development of Ras Al-Khair. The Royal Commission for Jubail and Yanbu in 2016 signed a memorandum of understanding (MoU) with Saudi Aramco and updated the general plan of Ras Al- Khair to include an industrial complex for marine industries and services which was called King Salman International Complex for Maritime Industries and Services.

King Salman International Complex for Maritime Industries and Services includes a ship-building zone consisting of two dry docks, industrial buildings to manufacture ship engines, another area for the manufacture of offshore platforms and excavators, a zone for ship repair and maintenance, and a special area for marine supply vessels that contains a number of dry anchors and cranes for the repair and construction of marine supply vessels.

The MoU says the complex will be developed through Saudi Aramco, while the development of the offshore cluster area will be done by the Royal Commission.


Dubai launches economic program for post COVID-19 recovery 

Updated 05 August 2020

Dubai launches economic program for post COVID-19 recovery 

  • “The Great Economic Reset Programme” is part of a “COVID Exit initiative” to help the recovery and reshaping of the economy
  • The economic program will feature analyses of current and future policies

DUBAI: Dubai launched an economic program as part of its efforts to reshape the emirate’s economy for a “sustainable” and “resilient” future post the coronavirus pandemic, the government said. 
The Dubai government partnered with the Mohammed bin Rashid School of Government (MBRSG) to launch “The Great Economic Reset Programme” as part of a “COVID Exit initiative” to help the recovery and reshaping of the economy, state news agency WAM reported on Tuesday. 
The economic program will feature analyses of current and future policies, research and extensive stakeholder consultation to set the direction and tone of future economic policies, regulations and initiatives.
The government plans to use local and international experts for economies and societies to create growth strategies for the Dubai economy.
The MBRSG held a “Virtual Policy Council,” with global experts and thought leaders to discuss the impacts of COVID-19 on the economy and potential policy responses and initiatives. 
Chief economists, senior practitioners and researchers from leading global institutions including the World Bank, joined experts from Dubai Economy and the MBRSG at the first roundtable.
“I believe the triple helix collaboration between public, private and academia stakeholders have always produced the best solutions in the past. In the highly uncertain environment now, extensive collaboration and cooperation between all stakeholders are vital to our future prosperity. The Virtual Policy Council will propose the best approaches Dubai and the UAE can adopt to address the risks and opportunities in the next normal economy,” said Mohammed Shael Al-Saadi, CEO of the Corporate Strategic Affairs sector in Dubai Economy.
“This Virtual Policy Council is a key component of the whole process where global experts and thinkers share their views on the future economy. In this new era, the role of governments in enabling the new economic actors is becoming increasingly central, and Dubai is well-positioned to lead the way with innovative models of growth post COVID19,” said Professor Raed Awamleh, Dean of MBRSG.
The roundtable also discussed the impact of the pandemic on international trade, foreign investment and tourism, as well as the rise of digital globalization.