Business & Money | Saturday 2 March, 2019 4:31 am |

The head of the JCCI Industrial Committee Ibrahim Batarji said they would start a new initiative to establish factories in districts. This move, he said, is to reduce the pressure on industrial cities and provide easy access to jobs for women.

The factories will be built based on specific measurements and they will be environment-friendly. The initiative targets 30 districts and each district is expected to have two factories launched in buildings, and each factory will employ 30 individuals. Among products to be produced in these factories are clothes, jewelries, perfumes and food.

 

Commenting on this initiative that will be launched in cooperation with Modon and Jeddah Municipality, Olfat Qabani an investor in the industrial sector said this is a positive move. She added, “There is a need to increase awareness among youth to start their own factories and overcome the stereotype that only high profile businesspersons can establish factories.”

The initiative was announced during a session entitled “The Expectations of The Industrial Sector Leaders” at the JCCI 75th Anniversary.

Speakers at the session raised various challenges including manpower, fuel prices and sudden decisions. They added that more effort is needed to meet the expectations of the Saudi Vision 2030 and to diversify economy away from the petrochemical sector.

They also noted that both Modon and the Saudi Industrial and Development Fund are now supporting the industrial sector. According to them the sector boosts other supporting sectors including logistics.

Abdulaziz Al-Surai, chairman of Abdulaziz Al-Surai Investment Company, highlighted that youth should invest in the industrial sector in order for Saudi Arabia to export to countries in the region.

He added that “Made in KSA” is a trademark that is well-respected and trusted abroad and thus industrial investors should make use of the trademark and stick to high standards.

He also noted that if foreign cover-up businesses in the industrial sector are combated this shall create more investment opportunities for youth.