Investment opportunities in Al-Qassim highlighted

The Gulf Organization for Industrial Consulting (GOIC) is taking part in the industrial investment forum in Al-Qassim.
The forum, being held with the support of Al-Qassim Gov. Prince Faisal bin Bandar, was organized by GOIC in collaboration with the Unaizah Province Chamber of Commerce and Industry, and MISC Group of Advisory Services and Development Projects.
The forum opened on Tuesday (Oct. 21) at King Fahd Cultural Center in Unaizah and concludes on Thursday (Oct. 23).
GOIC Secretary-General Abdulaziz bin Hamad Al-Ageel stated: “GOIC co-organized this forum as part of its efforts to support industrial development projects in member states, develop GCC databases, prepare several studies on industrial sectors, suggest investment opportunities for targeted industrial sectors and offer technical consulting services to the public and private sectors.”
He added: “During this forum, GOIC presented investment opportunities valued at SR813 million in the areas of pharmaceuticals, food and agriculture. These opportunities would provide employment for nearly 561 workers.”
Al-Ageel added: “According to the analytical studies carried out by GOIC, there are several promising opportunities in Al-Qassim, capable of boosting the region’s economic performance. These opportunities are based on the region’s abundant natural resources and agricultural crops and its geographic location close to the Kingdom and neighboring countries’ markets. Thus, there is a big potential to expand pharmaceutical and food industries in addition to setting up further recycling industries that serve the local community and protect the environment.”
The GOIC secretary general explained that GOIC has presented a working paper about the current status of industries in Saudi Arabia with emphasis on Al-Qassim region, in addition to the development and trends leading to industrial sectors’ progress. The paper included an analysis of Al-Qassim cities’ industrial facilities and their distribution according to industrial sectors and foreign investments. It also tackled the competitive advantage of the region’s industries and the challenges and difficulties that foreign investors are facing in that particular region.
Al-Ageel stated: “GOIC suggested 10 investment opportunities aiming at developing and diversifying industrial activities in Al-Qassim. The value of these opportunities is estimated at nearly SR813 million and they are to provide job opportunities for approximately 561 workers. These investment opportunities are in line with the general vision of the forum, hence promoting clean industries.
In the pharmaceutical sector, GOIC offered three investment opportunities that use advanced biotechnology to manufacture insulin and screening and diagnosis medicines. As to food industries, the organization offered three more investment opportunities for the production of SPC (Soy Protein Concentrates), date liquid sugar and frozen potato chips.”
Furthermore, GOIC suggested two investment opportunities in the area of recycling industries: the generation of electricity from household wastes and agricultural residues, notably palm trees and rubber recycling, especially car tires. A third investment opportunity, the production of structural insulated panels (SIPs) with reinforced cement boards, was also suggested.
The industrial investment opportunities forum in Al-Qassim was entitled "Toward clean industries." During this forum, GOIC suggested a number of industrial investment opportunities in the area of food, agricultural and pharmaceutical industries. This forum aims at organizing B2B meetings between technology suppliers and investors wishing to implement these opportunities. It also aims at setting B2B meetings between investors and consumers as a result of the coordination between GOIC, Unaizah Chamber of Commerce and Industry and MISC GROUP of Advisory Services and Development Projects. The ultimate objective of this forum is to provide a platform for dialogue between industrialists and decision-makers to reach applicable recommendations for establishing industries that attract Saudi labor force and contribute to the prosper and welfare of the Kingdom and the region of Al-Qassim in particular.