RIYADH — SABIC participated in the Biban Asir Forum at the Abha International Exhibition Center last Sept. 27-29 as an exclusive strategic partner, demonstrating the key role it is playing in supporting small and medium enterprises, in line with the objectives of Saudi Vision 2030.

The Forum was inaugurated by Prince Faisal Bin Khalid, Governor of Asir, in the presence Prince Turki Bin Talal, Vice Governor of Asir, and Dr. Saleh Al-Rasheed, Governor of Monshaat.

Fouad Mosa, Vice President, Local Content and Business Development Unit, said Asir region holds much potential to play an active role in the national economy. Building on its rich heritage, Asir offers several investment opportunities that could generate jobs.

SABIC held a workshop on the sidelines of the Forum titled “Nusaned, SABIC’s national initiative and its role in the empowerment of industrial investment opportunities and supporting small and medium enterprises.” The registration process for Nusaned, which is SABIC’s localization initiative launched early this year, was explained to visitors at a pavilion set up at the Forum. Several memoranda of understanding were signed at the pavilion in support of entrepreneurship in Asir.

Mosa said that the Forum represented an opportunity for SABIC to highlight its efforts in identifying opportunities around Saudi Arabia for small and medium enterprises, as well as for youth, and raise their contribution to the GDP from 20 percent to 35 percent in 2030.

“SABIC is leveraging its global presence to enrich local content, contribute to localization in manufacturing in many areas, especially in the downstream chemicals sector, and develop local suppliers of materials and services. Nusaned is also working to strengthen SABIC’s strategic partnerships with the public and private sectors. The aim is to find the best opportunities for the success of emerging businesses, and to follow up the various stages of this process – from idea, through establishment, and even operation,” Mosa said. — SG