Business & Money | Wednesday 28 October, 2015 2:47 pm |

King Abdullah Economic City (KAEC) is targeting the increasing number of investors in the United Arab Emirates who are looking for opportunities to expand their business operations into Saudi Arabia.

To further this aim, recently a delegation from KAEC met with members of the Indian Business Professional Council (IBPC) at the India Trade Center in Sharjah, UAE. 

The KAEC delegation was led by Mr. Rayan Qutub, CEO of the Industrial Valley in KAEC, and included representatives of the Economic City Authority (ECA). IBPC Sharjah was represented by Mr. Sudesh Aggarwal Chairman of ITEC m.e. and IBPC Sharjah, and Board Members who warmly welcomed the visitors.

Mr. Qutub, who headed the delegation and gave a presentation about KAEC, commented: “KAEC’s Industrial Valley has become an increasingly popular manufacturing and logistics hub on the Red Sea, especially after inaugurating King Abdullah Port in January 2014.” 

He went on to describe the promising opportunities for UAE investors and business owners, saying:  “The door is open for UAE and regional manufacturing enterprises to come and see the opportunities that are immediately available in KAEC, where foreign investors enjoy 100% ownership within a thriving and dynamic business environment.”  

 “Attracted by the world class infrastructure and access to a regional market of more than 250 million consumers, more than 100 local and international companies have already invested in establishing commercial and manufacturing facilities in KAEC, some of our prestigious clients are MARS, Almarai, Olayan, Alkabeer, SANOFI, ALJ, Pfizer, Abudawood, Sunbulah, Julphar, Binzagr and Aramex to name a few.”.  He pointed out:” These looking-forward companies have based their decision on the state-of-the-art infrastructure, the world class public services and the unique social and commercial facilities, as well as the wide choice of residential accommodation; all which makes KAEC the ideal place to fulfil the industrial enterprises needs of all types and promises a prosperous future for investors in the Industrial Valley (IV).” 

He added:” we are progressively accelerating the pace of development to create even more investment opportunities in order to attract more regional and international investments, we are developing an area that exceeds 25 million sqm to cope with the increased demand on the lands at the Industrial Valley, which to date we have 10 are already in operation and 26 others are under construction.” 

Speaking on behalf of ITEC m.e. and IBPC Sharjah, Chairman Sudesh Aggarwal expressed happiness at the meeting and said: “KAEC is a landmark in the Saudi investment market and is fast becoming one of the most prominent investment icons in the region due its highly favorable business environment and its unique location on the Red Sea which opens up access to markets across the Middle East, Africa and Europe. We look forward to seeing our alliance with KAEC come to fruition and to utilizing this opportunity to contribute, as IBPC should play a role as an advisor and help Indian business choosing and setting up in the economic city, which in return will contribute to the economic city’s development and progress.”

Mr. Sultan Masoom, Investment Development Manager in the Economic City Authority, outlined the advantages of investing in KAEC saying: “As the single regulator and provider for all governmental services, Companies who have already invested in KAEC and the Industrial Valley are now enjoying all benefits arising from the ease of establishing business operations in the city, smart services, and availability of mixed gender skilled labor force”