KAEC — King Abdullah Economic City›s Industrial Valley has received the Capital Finance International Award for Best Industrial and Integrated Service Project 2016. At the award ceremony in Hamburg, Industrial Valley’s CEO Rayan Qutub accepted the award from the executive management of Capital Finance Magazine in the presence of the Saudi Arabia’s Ambassador to Germany Dr. Awwad Bin Saleh Al Awwad.
“The Industrial Valley has become a thriving center for manufacturing and logistics services where investors benefit from the integration with King Abdullah Port, as well as the development of warehouses and prepared plants for light industries through a Plug and Play system that ensures speed and cost reduction,” said Qutub, stating that the Industrial Valley’s award win is due to its distinguished nature as a Saudi project to international standards.
The criteria for granting the award, as decided by the Capital Finance judging panel, included the quality of the Industrial Valley’s infrastructure, as well as its careful planning according to its bold and ambitious vision. It also included its design, which was implemented in an integrated and coherent manner with surrounding facilities that include King Abdullah Port, residential areas, a business center and the Haramain High Speed Railway.
A central factor was the Industrial Valley’s location in one of the fastest growing shipping centers and logistics areas at the heart of one of the most dynamic economic zones in the world, considered a vital portal to fast growing markets in the Red Sea region. This was in addition to the implementation of a number of procedures that facilitate import and export processes in a fast and smooth manner for companies located in the Industrial Valley.
“This prestigious award win by the Industrial Valley is an outstanding achievement and confirms the Economic City’s competitiveness, which strengthens its role in one of the significant economic pillars for the Saudi 2030 vision and a true example of the possibility of achieving the vision,” said Fahd Al-Rasheed, Group CEO and Managing Director of King Abdullah Economic City. The Saudi 2030 vision focuses on activating the role of local and foreign private sectors in motivating investors to develop and establish mega projects in the Kingdom.
The Industrial Valley also receives major support from the Economic Cities Authority, which enables companies to shorten the time period for registering and processing business documents in order to begin operations. Qutub also revealed details of a plan to provide new services in the Industrial Valley to be implemented in the coming year, including bonded and re-export zone, technology park and gas zone to service gas-dependent industries. — SG
