DAMMAM, 23 January — Industry and Electricity Minister Dr. Hashim Yamani will be the keynote speaker at a symposium on national industries to be organized by the Eastern Province Chamber of Commerce and Industry here on Jan. 30.
EPCCI President Khaled A. Al-Zamil said the symposium, its main theme being "National industry -- in which direction?", was vital in the changing global economic environment.
One of the major issues to be discussed during the symposium will be the setting up of an umbrella organization, based on the pattern of Saudi Basic Industries Corporation, for all non-oil industries. In the changing business environment around the world and with the arrival of World Trade Organization, such a body is extremely relevant for proper, cohesive marketing of national products abroad, Al-Zamil said.
Businessmen attending the forum will also take up a number of other issues vital for the development of the industrial sector, which has made tremendous strides during the past decade and helped the government achieve its goal of diversification of national industry.
Al-Zamil said the proposed umbrella body might market Saudi industrial products in the international market. This will help reduce internal competition, he said, adding that the WTO had made such a private sector body more relevant.
The participants are also likely to discuss price war among the national industries, especially in the domestic market. Chamber officials believe that such price wars are not healthy for either the individual industries or the domestic market. Efforts will be made to come up with a mechanism under which the local competitors will agree on a minimum price for their products. A fierce price war raged among dairy companies in the Kingdom only this summer. However, sanity prevailed and the dairy firms agreed on a common price before the bitter competition caused severe damage.
The symposium will also discuss the role of Saudi Electricity Company in the growth and development of the national industry.
