Investment requests in Jubail and Yanbu have exceeded $13.3 billion in the first quarter of 2020, despite the effects of the coronavirus pandemic on the global economy, Saudi Arabia’s Royal Commission for the two cities said.
Royal Commission president for the two cities, Abdullah bin Ibrahim Al-Saadan, explained that the shipping lines that link the industrial city of Yanbu with the port of Jeddah and East African ports will serve many investors by quickly reaching customers and markets at an appropriate cost and will greatly increasing the volume of exports and imports in the future.
While the port city of Jazan Economic City – which focus on the energy and manufacturing industries – is in the process of finalizing the procedures and is expected to be operational next year.
Al-Saadan said the Royal Commission had plans to develop neighborhoods for workers.
But he said that since the beginning of the coronavirus crisis, specialized committees have been formed to visit those housing units and implement all health requirements.
Al-Saadan, explained that the Kingdom took initiatives to support and stimulate the economy and reduce operating costs and financial obligations of the private sector in response to the impact the pandemic had on the global economy.
Arab News
04/05/2020
