Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Investments in economic cities estimated at SR500 billion  Join our daily free Newsletter

MENAFN - Arab News - 15/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The volume of investments in the economic cities in the Kingdom is estimated at SR500 billion, local media said quoting an economic expert.
The economic cities are tailored to achieve the desired economic goals: to make a quantum leap in diversifying the sources of economic resources, achieve sustainable development and raise the share of the non-oil sector in the gross domestic product (GDP), said Abdulrahman Al-Saneei.
He told Al-Riyadh daily that the cities will minimize internal migration, and lead to a reverse migration toward these cities, especially the productive age groups.
In addition, the cities will preserve liquidity and cash flow internally, attract foreign capital, and boost the purchasing power of the local currency through the movement of salaries, wages, land rents, and the cost of public services.
"The objective behind the establishment of economic cities in different regions of the Kingdom lies in the creation of modern industries, and raising the proportion of the diversity of the economic resources of the Kingdom in addition to achieving the goa of sustainable development," said Al-Saneei.

"The establishment of these cities is considered the gateway to achieving the economic and social ambitions of the Kingdom," he said.
"To achieve the desired objectives of these cities, the party responsible for the management of the economic cities must play the role of the main supervisor, administratively and financially and make provision for all requirements, services and government facilities around the clock seven days a week," he said.
The national economy will achieve many gains from the establishment of these economic cities such as reducing inland migration, easing traffic congestion and minimizing the consumption of services, preserving cash flow and local investment in the Kingdom, and attract foreign direct investments (FDIs), he said.
"There must be an efficient coordination between the Ministry of Commerce, Industry and businessmen, as well as agents and the major car companies, heavy equipment manufacturers, consumer products and other companies, for the maximum utilization of these economic cities," Al-Saneei said.


 


Arab News




  MENA News Headlines
 May 28 2016 - Pakistan predicts 10 percent hike in exports to UAEpakisMENAFN
(MENAFN) Pakistan is aiming at a 10 percent increase in exports to the UAE, which has touched USD3 billion in its last fiscal year 2014-15.The y-o-y joint trade capacity has climbed 11 percent to ...

 May 28 2016 - UAE crushes regional rivals as top business hubMENAFN
(MENAFN) Emirati growth in financial and business services, trade and logistics, and tourism activity, over the last couple of decades, has played an important role in fueling Dubai's emergence as a ...

 May 28 2016 - Egypt works hard to establish local car manufacturingMENAFN
(MENAFN) Egypt is qualified and well prepared for the establishment of a real automotive industry based on manufacturing, rather than assembly, as explained and stressed by the nation's Minister if ...

 May 28 2016 - Kuwait's index bounces 45.63 pts volume soarsArab Times
(MENAFN - Arab Times) Kuwait stocks swung higher on Wednesday, as sentiment brightened on rising oil prices and positive regional cues The bourse, after a tame start, jumped 45.63 points to 5368.25 ...

 May 28 2016 - KIPCO hosts 'Speed of Trust' seminar by CoveyArab Times
(MENAFN - Arab Times) The Kuwait Projects Company (KIPCO) hosted Stephen M.R. Covey on his first trip to Kuwait. Covey is a renowned keynote speaker and advisor on trust and leadership and the author ...

 May 28 2016 - Kuwait bourse indices post weekly gainArab Times
(MENAFN - Arab Times) The KSE Indices witnessed a positive week as the KSE price index closed with 5,396.67 an increase of 1.36% up 72.62 points compared to the previous week. As the MUDX remained ...

 May 28 2016 - Muslim mob attacks Christian homes in CairoArab Times
(MENAFN - Arab Times) An Egyptian appeals court has overturned five-year prison sentences for 47 people for participating in unauthorised protests, but upheld fines of more than $11,000 each, ...

 May 28 2016 - Dubai police patrol in luxuryArab Times
(MENAFN - Arab Times) Image is everything in Dubai € even when fighting crime. Police in this desert metropolis have built up a high-horsepower arsenal of luxury sports cars and SUVs over the years ...

 May 28 2016 - Coalition pounds DAESH in RaqaArab Times
(MENAFN - Arab Times) Warplanes from the US-led coalition have pounded the Islamic State group with at least 150 strikes to bolster a major offensive on the jihadists' Syrian stronghold of Raqa, a ...

 May 27 2016 - Qatar- Five key clashes in the Champions League finalThe Peninsula
(MENAFN - The Peninsula) The 2016 UEFA Champions League Final logo at the Piazza Duomo in Milan, Italy, on 26 May 2016. EPA/DANIEL DAL ZENNARO Madrid:Real Madrid face local rivals Atletico Madrid ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help