Riyadh – Exclusive Sharikat Mubasher: Abdulrahman Mushabb Al-Alakmi, Head of the Small and Medium Enterprises Department at the Royal Commission for Jubail and Yanbu, said that the Commission signed a number of memoranda of understanding with a number of entities in the Kingdom during Biban 2024 with the aim of supporting and enabling small and medium enterprises to operate within its industrial cities.
The Royal Commission is the body responsible for managing industrial cities, starting with Jubail and Yanbu, then Ras Al Khail Mining Industries City was added in 2009 and Jazan Transformation Industries City in 2015.
On the sidelines of Biban 2024, Al-Alakmi added that the Royal Authority provides a number of incentives to investors in general and to medium and small companies in particular, the most important of which are developed lands and ready-made factories.
Al-Alkami noted that the incentives offered by the commission include reduced rental value for lands or ready factories, in addition to long exemption periods.
According to Al-Alkami, investors within the industrial cities affiliated with the Royal Commission enjoy a number of partnerships signed between it and a number of supporting entities, such as the “IKTVA” program by “Aramco” and the “Nusaned” initiative by “SABIC”.
Biban 2024, organized by the Small and Medium Enterprises General Authority (Monsha’at), takes place in Riyadh from 5 to 9 November, with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.
It targets creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.