Official government website of the Government of the Kingdom of Saudi Arabia 
The university organized A scientific conference to discuss the prospects for the development of "Industrial Investment and Finance" in the Kingdom of Saudi Arabia on Wednesday, 1439/6/26, in cooperation with the Scientific Society for Investment and Finance, with the aim of contributing to the diversification of investment programs and industries in the Kingdom to contribute to achieving Vision 2030, by discussing 15 scientific papers, which were accepted for participation in the conference after arbitration by the scientific committee of the conference, among 32 scientific submissions in Arabic and English, from researchers representing local scientific institutions, from 13 countries.
His Excellency Prof. Abdulrahman bin Hamad Al-Dawood, President of the University, stressed during his speech at the conference that we need to raise many issues in the field of investment and financing, especially in the industrial field, expressing his hope that this conference will come out with recommendations that support this field in this dear country.
Al-Dawood pointed to the great support that the university receives from the wise leadership in the field of these conferences, explaining that the university was honored by the approval of the Custodian of the Two Holy Mosques to hold this conference under the patronage of His Excellency the Minister of Education Dr. Ahmed Al-Issa, which indicates the interest of the government of the Custodian of the Two Holy Mosques in raising such topics, which will reflect, God willing, on the level of development and economy in this blessed nation.
Al-Dawood said: "The university, with its human and material capabilities, is pleased to organize this important conference in cooperation with colleagues in the Saudi Society for Investment and Finance. I thank all participants and attendees, and I thank the colleagues of the organizing committee led by His Excellency the Vice President of the University, Dr. Mohammed Al-Saawi, and colleagues at the College of Economics and Administration, and I especially thank the Saudi Society for Investment and Finance for adopting and organizing this conference, and I wish the conferees all success and success.
For his part, Dr. Mohammed Al-Saawi, UQU Vice President and Chairman of the Organizing Committee, said that scientific events and academic conferences continue to take place at the university, which has recently witnessed many scientific, research and awareness-raising events, including: "Awareness, Health and Education" campaign in Aqlah Al-Suqur Governorate, the international conference organized by the College of Pharmacy, the annual research conference at the College of Medicine, and other various events.
He stressed the necessity of such conferences in light of the need for the National Transformation Program 2030 to strengthen the private and industrial sector and move from government support to private sector work, thanking the College of Economics and Administration and all those working on this conference and wishing everyone success.
For his part, Dr. Musleh bin Hamed Al-Otaibi, Acting Chairman of the Royal Commission for Jubail and Yanbu, said in his speech that the Kingdom of Saudi Arabia is currently experiencing a comprehensive investment renaissance supported by ambitious strategic plans to enhance economic growth and diversify sources of income through the Kingdom's Vision 2030, which complements the efforts made by the wise government to make the Kingdom one of the 20 strongest economies in the world and raise its economic packages from 19th to 15th in the world.
"Al-Otaibi" emphasized that the state has attached great importance to industrial development and provided it with all means of support and operation to achieve the Kingdom's strategic objectives, as these efforts included supporting industrial development through several basic axes, including: Providing the necessary infrastructure, establishing the industrial cities of Jubail and Yanbu, establishing industrial cities in various regions of the Kingdom, and supporting the establishment of the Saudi Industrial Development Fund, stressing that all these efforts resulted in an increase in the number of factories in the Kingdom to 7741 factories with a capital exceeding 1.1 trillion Saudi riyals.
Al-Otaibi explained that the Kingdom has taken many policies to encourage and attract investments, which were represented in reducing the number of economic sectors closed to foreign investors, in addition to allowing them ownership percentages of up to 100% in many industrial sectors, such as energy and gas, in addition to accelerating investors' access to licenses and approvals necessary to start projects, noting that a number of government agencies have been assigned and linked to a single platform to complete the procedures for investors quickly and easily.
Al-Otaibi said that SMEs play a key role in the growth and prosperity of many countries, so the state has created a number of programs that address these enterprises, enhance their excellence and ensure their continuity, including the General Authority for Small and Medium Enterprises, which will increase the contribution of small enterprises to the total GDP from 20% to 35%, for the year 2030.
Al-Otaibi pointed out that the Kingdom, through the Ministry of Energy and Mineral Resources, with the participation of a number of government agencies and the private sector, is working on developing and realizing the national strategy that will achieve the industrial renaissance in the Kingdom and bring it to a higher level through 19 strategies and 82 initiatives with an estimated budget of 78 billion Saudi riyals until 2022.
Al-Otaibi added that the strategy includes a number of industrial clusters that are given high priority, for example: Automotive, pharmaceuticals, specialty chemicals and other industries, pointing out that the Royal Commission for Jubail and Yanbu, through an investment of more than 108 billion riyals since its establishment in 1975 until the fourth quarter of 2017, managed to attract industrial investments valued at more than 975 billion Saudi riyals, of which the volume of foreign investment exceeded 38% of the total industrial investments, and the number of industrial facilities in the cities of the Royal Commission exceeded 643 industrial facilities distributed between primary, secondary, light and support industries, and provided more than 153 thousand jobs.
The Acting President of the Royal Commission for Jubail and Yanbu said at the end of his speech: "This conference confirms the keenness of government agencies to support the national strategy to drive the economy, and for each of us to fulfill our role and trust before God Almighty and then before the nation and society. I can only thank this magnificent edifice for inviting them to this honorable ceremony, hoping that it will result in practical recommendations that contribute to advancing progress and construction."
On the other hand, Dr. Ibrahim bin Mohammed Al-Hassoun, Chairman of the Scientific Committee of the conference and Chairman of the Board of Directors of the Scientific Society for Investment and Finance, stressed that the conference comes within the framework of the Kingdom's Vision 2030, which aims to develop the Saudi economy, diversify its sources of income and increase competitiveness, indicating that the industrial sector is one of the most important tributaries of economic diversification in the Kingdom, as this conference seeks to identify the current situation in industrial investment and financing, their relationship with the structure of the Saudi economy, and shed light on the basics of industrial investment and financing in the Kingdom.
He pointed out that the university, represented by the Scientific Society for Investment and Finance at the Faculty of Economics and Administration, is trying, through holding such conferences and scientific seminars, to keep pace with the directives of the government of the Custodian of the Two Holy Mosques, and to contribute to achieving the Kingdom's development goals by identifying international, regional and local experiences, and reaching a proposal that serves industrial investment and finance in the Kingdom, in light of the Kingdom's vision, Al-Hassoun extended thanks and appreciation to the organizers and participants of the conference and the sponsors.
