Media Centre

King Abdullah Economic City (KAEC) hosted “Your way to successful entrepreneurship” workshop in Bay La Sun Hotel and Marina attended by 50 students from King Abdulaziz University-Rabigh Branch. The workshop which was organized by the Centennial Fund in collaboration with the Human Resources Development Fund (HRDF) is part of KAEC sustainability plan for new projects. The plan was designed to empower entrepreneurs and secure their future in the economic city as well as to ensure business sustainability by gathering all small businesses starting up and the supporting bodies under one umbrella.

The workshop aimed at attracting young Saudis to start small businesses and increase their awareness of entrepreneurship as a significant contributor to the kingdom’s economic and social development.

The main focus of the workshop was on instilling in the participants the fact that every entrepreneur must have a clear vision of the project intended for financing. To emphasize this, the workshop identified some of the factors of failure such as inappropriate project concept, incompatibility of project with the skills and experience of the entrepreneur, and lacking significant marketing research for the project. On a positive note, the sessions stressed the importance of conducting a project feasibility study and also pointed out the different opportunities available for project financing.

Expressing the city’s pleasure in hosting the workshop, Mr. Fahd Hamidaddin, Head of Marketing, Communications and Sustainability in KAEC, stated that the workshop was intended to motivate and encourage youth in the surrounding areas and contribute to decreasing the rate of the unemployment, especially considering that KAEC is a main base to entrepreneurs.

The workshop highlighted KAEC’s commitment to sustainable development as an integrated social and economic city, demonstrating that the role of KAEC is not only to bring investments and develop various industries but to enhance and encourage the nation’s human resources to be part of the of economic activities that will benefit them and their country with prosperity.

KAEC has embraced many cultural, intellectual and developmental events at both local and international levels, most recently the ‘Messengers of Peace” program, which aims to develop the skills of participants in all areas of scouting work where 83 employees were from KAEC.