Jazan is Positioned to Develop Into a Hub for Trade with Africa

African trade is expected to grow significantly in Saudi Arabia's Jazan region, a minister of industry and mineral resources' adviser claims.

During the Jazan Investment Forum 2023, Saleh Al-Solami Elucidated that the industries of the Kingdom possess the potential to secure a greater portion of the African market.

This is consistent with the Kingdom's strategic choice to establish the area as a special economic zone serving the transport sector.

"There is great potential for Saudi industries to hold a larger share in African markets because the size of the African economy — the volume of demand and imports — exceeds $400 billion," Al-Solami stated.

"The region of Jazan is poised to emerge as a significant hub for the surrounding demand markets," he continued.

Al-Solami went on to describe how the Jazan region will play a significant role because of its capacity to connect regions that supply raw materials to Africa, profit from the Kingdom's manufacturing capabilities, enhance the value chain, and re-export to the intended markets in addition to the local market.

Majed Al-Shathry, vice president of acting industrial cities operations at MODON, also spoke during the same session and provided insight into the Jazan Industrial City's infrastructure.

Al-Shathry stated, "Of the 39 million square metres that make up the Jazan Industrial City, 3 million square metres have already been developed."

Out of the 62 industrial contracts, 24 are operational industrial facilities, while the remaining ones are undergoing construction or are in the process of being ready to begin production. It also comprises ten plants that are presently under construction and eight ready-made factories that are currently operating. We anticipate it being completed in two to three months, he stressed.

The goal of the Crown Prince Mohammed bin Salman-sponsored Jazan Investment Forum 2023, which takes place on Wednesday, is to bring financial benefits in the logistics and agricultural industries.

According to the Saudi Press Agency, the event would also highlight the region's environmental and climatic diversity, especially that of Farasan Island.

Originally posted: Emerio Banque!