The Minister of Investment presents opportunities for Saudi cities and economic...

Eng. Khalid Al-Falih, Minister of Investment, Chairman of the Council of Cities and Special Economic Zones, and Wong Chu Ming, Singapore’s ambassador to the Kingdom, accompanied by a number of Singaporean businessmen, and a number of representatives of Singaporean investment companies visited King Abdullah Economic City, in a two-day introductory tour that included The most important city landmarks and facilities, and learn about the advantages of investing in cities and special economic zones.
The delegation was received by the Secretary-General of the Special Economic Zones and Cities Authority, Muhannad bin Abdul-Mohsen Hilal, and the CEO of the city, Ahmed Ibrahim Lengawi, in the presence of a number of senior officials of the ministry, the authority and the city.
The visit included holding a workshop in the presence of the Minister Al-Falih, the Secretary-General of the Cities Authority and the CEO of King Abdullah Economic City, and the Chairman of the Board of Directors of the Port Development Company, the owner, developer and operator of King Abdullah Port, Saleh bin Laden, during which he briefed the delegation on the various and distinctive investment opportunities offered by them. The city is in front of investors.
The Singaporean delegation visited the port, which is the first owned, developed and managed by the private sector in the Middle East, and is classified as one of the fastest growing ports in the world. The tour also included the visiting delegation practicing golf at the Royal Greens Club.
Muhannad Hilal, Secretary-General of the Cities Authority, explained that this visit is an opportunity to review the regulatory incentives and enablers that the authority offers to attract foreign investments with added value, which contribute to diversifying sources of income and providing quality jobs for Saudi youth, which serves the achievement of the goals of the Kingdom’s Vision 2030.
He referred to the distinguished business model in the economic cities, which is based on strategic partnership and integration of roles between the government, represented by the authority and the private sector, represented by the main developers.
For his part, Ahmed Lengawi, CEO of King Abdullah Economic City, expressed his appreciation for the efforts of the Ministry of Investment in attracting specific investments to the Kingdom and diversifying sources of economic growth, noting that this visit confirms the city’s position as one of the most important development projects and one of the leading investment destinations on the Red Sea. Which today, with its strategic sectors, has become one of the components of economic development that keeps pace with the ambitious aspirations of “the Kingdom’s Vision 2030”, by contributing to an increase in the flow of quality national and foreign investments and raising the proportion of local content. “The city holds promising prospects for companies and investors thanks to its advanced and integrated infrastructure, in addition to the quality services provided, not to mention its strategic location that mediates international trade and shipping lines, which makes the city a major supply point for industrial and logistical services,” said Lengawi.