Middle East

Makkah forum takes steps to engage private sector in regions development

Author: Wed, 2018-05-09 01:29

JEDDAH: The Makkah Economic Forum (MEF) has lined up a series of highly engaging activities spread across the entire year to involve the private sector as an active partner in the regions development programs and help realize the objectives of Saudi Vision 2030.

The comprehensive activities, which begin tomorrow, May 9, will help identify the current challenges and opportunities in the market and build on the momentum created by the recent two-day MEF 2018 event in Jeddah to encourage local and international business investments in the regions development projects.

The engagements will primarily be focused on four of the 12 Vision realization programs: National Industrial Development and Logistics, Enriching the Hajj and Umrah Experience, Public Investment Fund and Tourism, and Improving the Quality of Life.

“The year-long activities organized as part of the Makkah Economic Forum will create dialogues to encourage and facilitate effective collaboration to make the private sector an active partner in activating the vision realization programs,” said Dr. Lama Al-Sulaiman vice chairwoman and board member of the Jeddah Chamber of Commerce.

Events organized as part of the year-long activities will cover some very interesting topics such as the importance of developing marketing skills to standout within todays marketing noise and clutter, and surviving change in a rapidly evolving environment.

The Makkah Economic Forum aims to unify the efforts of the public and private sectors under one umbrella to attract the largest number of investors and businesspersons at all levels.

Investment opportunities

Eight investment opportunities in the Hajj and Umrah sector were launched by the Makkah Development Commission on Monday at the Makkah Economic Forum.

The opportunities are for a sacrificial meat waste management factory; a project to support services for people with special needs; the Miqat Qarn Al-Manazel development project; a food factory for pilgrims project; a Makkah-made products factory; a Makkah Gate development project; a downtown terminal project; and a Makkah and Madinah historical sites development project.

The investment cost of the sacrificial meat waste management factory is SR88 million ($23 million). The project aims to build a factory that can manage the huge amounts of waste resulting from sacrificial meat.

The project of support services for people with special needs will cost SR24 million and aims to provide high-quality services for the physically challenged and the elderly during the Hajj and Umrah seasons.

The Qarn Al-Manazel development project, which involves an investment of SR50 million, aims to renovate the areas near Qarn Al-Manazil Miqat, where shopping areas and washing facilities will be built.

The food factory for pilgrims project, costing SR90 million, will build and operate a food factory in the Muzdalifah area to provide high-quality food to pilgrims at affordable prices.

The Makkah-made product factory, costing SR175 million, will construct a commercial center to promote products made in Makkah and Madinah, including souvenirs, local food and other commodities.

The Makkah Gate development project, costing SR130 million, aims to build and operate the Makkah Gate as well as provide a parking area and commercial buildings for rent.

The downtown terminal project, costing SR85 million, will build and operate a downtown station accessible to all five-star hotels. It aims to reduce the pressure on local and international terminals and improve the visitor experience.

The Makkah and Madinah historical sites development project involves an investment of SR425 million to renovate four historical sites in Makkah and Madinah — Jabal Al-Noor, Jabal Thor, Jabal Al-Romat and Arwah Ibn Al-Zubair Palace.

Tags: Makkah ForumSaudi ArabiaMakkah Economic ForumMEFMain category: Saudi Arabia Makkah forum targets investment surge in Saudi ArabiaMakkah plans to combine economic events

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