The Fourth Downstream Forum in Jubail Industrial City was marked by the signing of 15 allocation agreements for small and medium enterprises (SMEs) and logistics, says Abdulaziz Noorudeen Atarji, general supervisor of the forum, and general manager of strategic planning and investment development of the Royal Commission for Jubail (RCJ).
These allocations were for the industrial cities of Jubail and Ras Al-Khair.
Speaking at the conclusion of the forum, Atarji said that the signed agreements aim to invest more than SR886 million in projects planned to provide about 2,309 job opportunities for Saudi youth in the resettlement of local content.
The forum's supervisor said: "A number of recommendations have been reached, most notably are the formation of a committee to follow up the proposals made in the forum and their implementation, holding meetings with government and civil related agencies to discuss the activation of the downstream's orientation, along with developing the role of universities and scientific research in the development of manufacturing industries.
He confirmed that that the forum aims to diversify the Saudi economic base, industrial growth, and income sources, and raising the competitive advantage of manufacturing industries to attract national and international investments, transfer and indigenize the related technology, in addition to learning the best global practices in the downstream field to achieve sustainability and raise the added value of basic-industries products through consuming petrochemical and mineral products in the final downstream.
Moreover, the event aims to highlight the role of innovation and knowledge centers in the development of the industrial sector in the Kingdom, and to achieve industrial integration between basic giant and downstream industries and industrial cities, in addition to creating job opportunities for Saudi youth, the official stressed.
Atarji said that the commission's industrial cities are characterized by a series of integrated services and infrastructure, and their strategic location helped in attracting international and local investors, as well as many giant investments based on oil and gas as raw materials.
He added that Jubail Industrial City has become one of the largest cities in the world in the field of petrochemical industries, which is an important pillar in the growth of manufacturing industries.
Source: Arab News