Fatima Muhammad
Saudi Gazette
JEDDAH — An expert said that youth invasions are not welcomed by investors because many of them did not obtain accreditation licenses from King Abdul Aziz City for Science Technology.
According to him, it is not investors who do not want to help youth and use their inventions rather it is the long procedures that youth need to go through before they get their licenses along with the legal complications. He added that once they get the authorizations, then investors will be willing to cooperate with youth.
Mohyi Al-Deen Al-Hakami, CEO of Al-Masfaq Investment Center at the JCCI, was speaking on the sidelines of the press conference announcing the Jeddah Industrial Forum, which will give a workshop for small and medium investments of youth in the industrial sector.
Youth suggested investors in the industrial sector should shift their interest from starting industrial projects to provide services such as marketing, logistics and transportation that can help them create cooperation with existing companies.
Olfat Qabani, head of the forum, noted that they will address the challenges that face youth investment in the industrial sector and will discuss them with the various government departments participating in the forum.
According to her, the industrial sector is crucial to the development of the kingdom since it comes as the second choice after oil. So far she said that they are working to have a competitive industry that will flourish the economy. Further, she noted that they want to promote for more involvement of youth and Saudi women. Qabani said = Jeddah now has four industrial cities which should be well used by investors thought diversifying the industry and creating jobs.
Answering a question about construction of vehicles, Ibrahim Batarji, head of the industrial committee at the JCCI, noted that the high competition particularly from China makes it impossible to construct cars in Saudi particularly that more that this will result in losses if vehicles are not to be imported outside Saudi boarders.
The event will kick off on April 20 under the patronage of price Khalid Al-Faisal, Governor of Makkah region, while the key speaker will be the minister of trade and industry Tawfeeq Al-Rabia. The forum will have a competition for nontraditional industrial ideas.
