JAZAN — Petroleum and Mineral Resources Minister Ali Al-Naimi said the Kingdom's future development vision aims at expanding the economic base and concentrating more on the manufacturing sector through building small, medium and large industries and reducing dependence on oil in a phased manner. Addressing the opening session of Jazan Economic Forum (JEF) here on Wednesday, Al-Naimi said the contribution of the industrial sector to the gross domestic product (GDP) has doubled from SR135 billion to SR276 billion over the past 10 years and it is expected to increase further in the coming years. Al-Naimi said that Jazan Industrial City is one of the major projects that have contributed to this remarkable achievement. Jazan Emir Prince Mohammed Bin Nasser opened the forum in a packed auditorium with more than 500 delegates, including senior officials, executives and business leaders. Speakers at the opening session included Prince Sultan Bin Salman, president of the Saudi Commission for Tourism and Antiquities (SCTA); Saudi Arabian General Investment Authority (SAGIA) Governor Abdullatif Al-Othman; and Saudi Aramco President and CEO Khalid Al-Falih. Referring to other goals of the future vision, Al-Naimi said the government is focusing on the comprehensive and sustainable development of all regions with a focus on remote regions and allocating the proportionate share of development for all regions without any exception. The minister said the government aims at making Jazan city a major commercial and industrial hub not only in the southern part of the Kingdom but the Red Sea and the Horn of Africa Region as a whole. The minister also noted that setting up integrated industries by utilizing the abundant natural resources across the Kingdom is another highlight of the future development strategy. The development vision also aims at linking the mineral and petroleum sectors by establishing giant economic projects. “The decision to set up an advanced petroleum refinery in Jazan led to the establishment of the economic city and a world-class port as well as a big electricity generating plant and diverse mineral and petrochemical plants in the region,” he said, adding that thousands of young Saudi jobseekers will benefit from these giant projects. In his inaugural speech, Emir Prince Mohammed said Jazan is racing against time to achieve accelerated economic growth and development and this was made possible after the government's drive to focus on the balanced development of all regions. “Jazan has started harvesting the fruits of this vision over the past few years, and hopefully this will be further augmented in the period of Custodian of the Two Holy Mosques King Salman,” he said, adding that the forum will further boost the drive. The emir lauded the efforts being made by Saudi Aramco in organizing the forum as well as in accelerating the building of the economic city and the oil refinery. “Saudi Aramco is our strategic partner in achieving comprehensive progress.” In the keynote speech on the topic of “Quality of life: The ultimate goal,” Prince Sultan unveiled SCTA's plan to tap the huge tourism potential of Jazan region. “The Commission has completed survey of 956 new tourism sites in different regions across the Kingdom and is now developing an advanced geographical data system. It has also identified 398 state-owned tourist destinations with plans to preserve them as well as to pump investments into them,” he said. Prince Sulan said the Commission is keen to have optimum utilization of the islands on the Red Sea and the Arabian Gulf for tourism promotion purposes, in a way not having negative impact on security and environment, and initially a list of 59 islands has been shortlisted,” he said adding that a large number of global exploration experts have been assigned to explore the tourism and archeological features of Farsan Island in Jazan.
Four sessions were held as part of the two-day forum, which showcases investment opportunities in the Jazan Economic City and highlight national priorities of economic diversification, entrepreneurship, job creation and improved quality of life. There will be four sessions on Thursday, in which the main speakers included Labor Minister Adel Fakeih and Commerce and Industry Minister Tawfiq Al-Rabiah. JEF aims at attracting investors to the Jazan Economic City, which covers on an area of 106 sq. km. The city occupies a strategic coastal location approximately 70km from Jazan City in a region known for its abundant natural resources. JEC would create more than 72,000 jobs over a period of 15 years. Entrusted to Saudi Aramco for its development, the project will be carried out in three phases. Phase 1, which will be completed in 2017, focuses on building smart infrastructure that meets the energy, utilities, and transportation requirements of a diverse industry base, anchored by a multibillion dollar new refinery.
