Media Centre

King Abdullah Economic City has recently announced its participation at the fifth Annual Investment Meeting “Sustained Development Through Direct Foreign Investment in Innovation and Technology Transfer” that held in Dubai from March 30^th – April 1^st, under the auspices of His Royal Highness Sheikh Mohammed bin Rashid Al-Maktoum, the Vice President and Prime Minister of the United Arab Emirates (UAE), and emir of Dubai.

Mr. Fahd Al-Rasheed, Group CEO and MD of King Abdullah Economic City, said that KAEC’s participation is in line with the Kingdom’s overall policy of balanced economic openness, nationally advocated through the General Investment Authority, which enlisted some heavy hitters in the Saudi economy to promote investment opportunities available to national, regional and foreign investors. “Our participation is part of the economic city’s strategic objectives, which encompass attracting more foreign investment and recruiting global and international investment funds for them to take advantage of the vast industrial and logistic investment opportunities at the Industrial Valley, which enjoys a world-class investment and residential environment that are in line with the ultramodern lifestyle within the city,” he said.

Al-Rasheed added that KAEC enjoys huge potential for innovative investment projects, thanks to its unique position as a model for urban development and industrial growth. The city will be home to what will become one of the 10 world’s largest seaports, providing an ideal outlet for the Industrial Valley to channel goods and products all along the Red Sea. KAEC furnishes a living environment ideal for people of all walks of life, including seaside resorts and tourist landmarks that make the city the ideal place to work and live.

Mr. Rayan Qutub, CEO of the Industrial Valley in KAEC, said: “The forum is an international gathering that brings together major investors from all over the world. It is a good opportunity to showcase KAEC with the elite of the global business world and exchange ideas on investment opportunities in advanced industries, and initiate visitors to the potential of the economic city.” He added: “The Industrial Valley has become the best destination for many regional and international investors, and a new manufacturing and logistic hub in the region, with access to 250 million consumers in the Arab world and North Africa. To date we have signed with more than 94 national and global companies of which 8 are already in operation and 22 others are under construction, focusing on the six industrial clusters: FMCG/foods, pharmaceuticals, logistics, plastics, building materials and the automotive sector.”

Qutub concluded:“the Industrial Valley continues to endure the rapidly increasing demand on lease and freehold industrial lands in its second and third phase of development at a speed beyond expectations where currently infrastructure is being developed for an area that exceeds 25 million sqm to cope with the increased demand and continue to be the first choice for new local and international companies.”

Saudi Arabia is the honor country of this year’s forum. The General Investment Authority is participating under the banner “Invest in Saudi Arabia”, along with other big government companies such as: The Economic Cities Authority, Saudi Aramco, the Saudi Export Development Authority, and the Saudi Ports Authority. KAEC is participating in the accompanying fair with a story about the city’s success, going all the way back to the day the late King Abdullah planted the seed, up to King Salman’s reign, when it became an SAR10-billion investment, industrial and residential hive.

The forum brings together a bevy of government officials, businesspeople, experts and practitioners from all over the world to discuss innovation as a major tool for sustained development and growth, and how direct foreign investment can contribute to the sustainability of economic growth through technology transfer and favorable regulations.