Saudi Gulf News:
Ras Al-Khair Industrial City, a growing industrial hub on Saudi Arabia’s eastern coast, has attracted a staggering SAR 176 billion (approximately $47 billion) in investments, according to its Chief Executive Officer, Mohammed Al-Deeb.
Speaking to the Saudi newspaper Aleqitsadia on Monday, Al-Deeb highlighted the strategic efforts undertaken by the Royal Commission for Ras Al-Khair in collaboration with three major government entities — the Ministry of Investment, Ministry of Energy, and Ministry of Industry and Mineral Resources — to bolster industrial development and attract long-term capital.
“The combined efforts of these key institutions have been instrumental in transforming Ras Al-Khair into a magnet for investors, particularly in the mining and heavy industries sectors,” Al-Deeb noted.
As of the end of 2024, the total investment committed to the city reached SAR 176 billion, with private companies accounting for a dominant 91 percent of that amount. This strong participation from the private sector reflects growing confidence in the region's economic potential and the attractiveness of its business environment.
Al-Deeb emphasized that Ras Al-Khair offers exceptionally high returns on investment. “Investments here are not just safe, but remarkably profitable — returns are reported to reach up to 12 times the original capital in some cases,” he revealed.
Ras Al-Khair has been designed as a key pillar in Saudi Arabia’s Vision 2030 strategy, aimed at economic diversification and strengthening non-oil industries. With its strategic location near rich mineral resources and access to key shipping routes, the city is rapidly evolving into a major industrial and logistics hub.
The Royal Commission, along with its ministerial partners, continues to roll out new incentives and infrastructure enhancements to attract even more investors in the years ahead.
0 Comments