TABUK — Minister of Investment Khalid Al-Falih announced that the volume of ready investment opportunities in the Tabuk region, displayed on the “Invest in Saudi Arabia” platform, is worth more than SR50 billion. This statement was made during a meeting organized by the Tabuk Chamber of Commerce with investors and businessmen in the region on Monday.

Al-Falih emphasized that the ministry is working in cooperation with the Tabuk Chamber to identify new investment opportunities, particularly in promising sectors such as renewable energy, agriculture, tourism, and entrepreneurship.

He highlighted the importance of supporting the private sector in Tabuk to enhance investment in the region.

Al-Falih also pointed out the crucial role of Tabuk Airport in facilitating economic movement and stressed the need for its expansion to keep pace with the region's growing economic activities, according to the Saudi Press Agency (SPA).

The Tabuk Chamber of Commerce identified several challenges and obstacles facing investors in the region. These include high production and land transportation costs, the lack of a railway, and the long distance involved, as well as an insufficient number of flights to and from Tabuk Airport.

Chairman of the Tabuk Chamber of Commerce Imad Al-Fakhri proposed several initiatives to develop investment in Tabuk. These include organizing an international investment forum, forming a partnership between the Chamber and the Ministry of Investment to market investment opportunities and attract investors to tourism projects, establishing industrial complexes and storage facilities, increasing the number of flights, and providing comprehensive information and data on the economy and investment opportunities in the region.

© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).