Saudi Gazette report

JEDDAH — Deputy Emir of Makkah Prince Badr bin Sultan attended the ceremony of signing a contract by the Jeddah Chamber of Commerce and the Taif Chamber of Commerce to join the Manafa Partnership Agreement, which aims to transform Makkah and Madinah into attractive financial and business hubs of the Islamic world by making use of the sacred status of the two holy cities.

The agreement was signed by Chairman of the Manafa Board of Directors Abdullah bin Saleh Kamel, Chairman of the Jeddah Chamber Muhammad Naghi and Chairman of the Taif Chamber Ghazi bin Mastour Al-Qathami.

This comes in line with the Tripartite Manafa Partnership Agreement that was signed last year, between the Islamic Chamber of Commerce, Industry and Agriculture, the Chamber of Commerce in Makkah and the Chamber of Commerce in Madinah, headed by Chairman of the Board of Directors Munir Muhammad Nasser bin Saad.

The Manafa Partnership involves a set of initiatives to be undertaken in the cities of Makkah and Madinah with a specific future vision, an integrated visual identity, and an annual program that is agreed upon and approved by the parties before the beginning of each calendar year.

The new agreement, which was signed at the headquarters of the Makkah Region emirate in Jeddah, opens the door for the Jeddah and Taif chambers to be included in the basic Manafa Partnership Agreement in view of the fact that the city of Jeddah is a gateway to the Two Holy Mosques, and that the city of Taif is located within the administrative region of the Makkah Region emirate. The Tripartite Partnership Agreement is part of the Islamic Chamber of Commerce, Industry and Agriculture endeavors to drive the economic and social development of its members.

Prince Badr also witnessed the signing of a memorandum of understanding between the Makkah chamber and the Jeddah chamber for the Warehouse City, in line with the Kingdom’s Vision 2030, with the participation of members of the boards of directors of the two chambers and business sector officials from the two cities.

Under the signed agreement, the two chambers will make investments, within the framework of the new partnership, 3 million square meters belonging to the General Ports Authority, located south of Jeddah Islamic Port, for a period of 30 years starting from May 25, 2028, with the aim of enhancing the financial efficiency of business owners in the two cities and achieving financial sustainability.