RIYADH: Global investors will get a chance to explore Jazan’s economic opportunities through Saudi Arabia’s southwestern region’s investment forum, which is scheduled to kick off on Nov. 28.
The Jazan Investment Forum 2023, held under the patronage of Crown Prince Mohammed bin Salman, aims to introduce economic advantages in the logistics and agriculture sectors.
In addition, the event will shed light on the environmental and climatic diversity of the region, particularly Farasan Island, according to the Saudi Press Agency.
It added that visitors will have the opportunity to delve into Jazan's rich heritage, explore monuments dating back to 8000 BC, and learn more about the region’s importance as an agricultural site with diverse crops.
Gov. of Jazan Prince Mohammed bin Nasser bin Abdulaziz extended his deepest gratitude to the crown prince for patronizing the forum. The event is organized by the Jazan Chamber in cooperation with the region’s governing department and the Jazan Region Development Strategic Office, along with several relevant government and private agencies.
The governor emphasized that the forum aims to serve as a platform for attracting direct and high-quality investments to the Jazan region, adding that it will act as a gateway to engage with relevant authorities to enhance the working environment and foster strategic investment partnerships for comprehensive growth and sustainable development in the region.
The two-day forum will feature a dialogue session where various ministers will discuss investment in Jazan, the region’s competitiveness, and its future aligned with the goals of Saudi Vision 2030.
The aims are to enhance the investment and development environment and create new opportunities.
Additionally, topics covering Jazan’s crucial economic role in attracting significant global investments to the region are also on the agenda.
Furthermore, the governor reviewed the importance of the forum and its activities, as well as the various investment opportunities available in different economic, agricultural, and tourism fields.
He also highlighted the ultimate care and interest the region receives from the leaders as part of their overall keenness to develop services in all regions of the country.
It is noteworthy that Jazan attracted over SR1 billion ($266 million) in investments in 2022 and 2023, gaining ground as a commercial region.
The amount secured in the last two years represents 40 percent of the municipality’s total investments over the past 20 years, the SPA reported.
While the region had a competitive edge with its vast coastline conducive to maritime and oil industries, it was the strategic decision to develop as a special economic zone catering to the logistics industry that gave it the upper hand.
Besides hosting the third-largest ports in the Kingdom, the coastal region is also home to a refinery, which is one of the largest refining stations in the world.
Moreover, the rapid development of infrastructure in the region was another crucial factor that led to the spurt in investment over the last two years.