Arab News, Thurs, Nov 30, 2023 | Jumada Al-Uola 16, 1445
Special lending mechanism helping boost investment in Jazan region
Saudi Arabia’s Jazan region is attracting investments thanks to the lending
mechanisms offered to regional investors, according to the assistant
minister of industry and mineral resources for planning and development.
In a panel titled “Strategic directions for investment in the Jazan region”
during the Jazan Investment Forum 2023, Sami bin Mohammed Al-Hamoud
explained that Jazan is among the regions receiving generous government
support and financing solutions in an attempt to boost investment and
This falls in line with the Kingdom’s strategic decision to develop the
region as a special economic zone catering to the logistics industry.
“What distinguishes the lending mechanisms for investors in the Jazan region
is that the region is one of the regions where 75 percent of the cost of
these projects is covered, compared to some other regions,” Al-Hamoud said.
“The Industrial and Logistics Development Program has worked over the past
years to prepare about 190 hectares as industrial areas, equipping
approximately 250 factories,” he added.
Al-Hamoud added that the Royal Commission for Jubail and Yanbu, with its
supervision of Jazan City for Political and Transformational Industries,
offers a wide range of investment opportunities today.
Also speaking during the discussion, Undersecretary of the Ministry of
Investment for Investment Development Saleh bin Ali Al-Khabti said: “In the
Ministry of Investment, we have a target of more than SR12 trillion ($3.19
trillion) for fixed capital formation. This means that we will not forget
Jazan, but the pressure on it will increase due to the presence of more than
22 sectors working to develop opportunities there,” Al-Khabti stressed.
“We attract qualitative investments that open new supply chains through our
work in various countries,” he added.
Taking place on Wednesday, the forum held under the patronage of Crown
Prince Mohammed bin Salman, aims to introduce economic advantages in the
logistics and agriculture sectors.
In addition, the event will shed light on the environmental and climatic
diversity of the region, particularly Farasan Island, according to the Saudi
Visitors will have the opportunity to delve into Jazan’s rich heritage,
explore monuments dating back to 8,000 BC, and learn more about the area’s
importance as an agricultural site with diverse crops.
Throughout 2022 and 2023, Saudi Arabia’s southwestern region attracted over
SR1 billion in investments, gaining ground as a commercial district.