Saudi Arabia's RCJY Nears $533bn Investment Target Ahead of 2045 Timeline
The Royal Commission for Jubail and Yanbu aims to attract investments worth SR2 trillion over the next five years, a target that was originally set for 2045.
Saudi Arabia’s Royal Commission for Jubail and Yanbu (RCJY) is making significant progress towards its goal of attracting SR2 trillion ($533 billion) in investment by 2045, a target that has been achieved ahead of schedule.
According to RCJY President Khalid Al-Salem, current investments have already surpassed the SR1.5 trillion mark, with an additional SR500 billion worth of investments currently under negotiation across various sectors.
The RCJY manages four industrial cities within the Kingdom, spanning a total area of 2,175 sq.
kilometers and home to approximately 380,000 residents.
These cities include Jazan City for Primary and Downstream Industries, Jubail Industrial City, Ras Al-Khair Industries City, and Yanbu Industrial City.
In an effort to diversify its investment portfolio, the RCJY is focusing on new sectors such as logistics and downstream manufacturing based on existing core industries within its cities.
This shift aligns with Saudi Arabia’s goal of ranking among the top 10 countries in the global logistics performance index.
The country has already shown significant progress in this area, including a reduction in customs clearance time from nine hours to less than two hours and a cargo volume growth rate of 32 percent.
The mining sector is also emerging as a key target industry for investments, as Saudi Arabia continues its transformation towards a more diversified economy.
The RCJY is actively working to attract major mining investments to its industrial cities, taking advantage of the Kingdom’s rich mineral resources.
According to recent estimates, Saudi Arabia has untapped mineral resources worth approximately SR2.5 trillion ($666 billion), up from an initial estimate of SR1.3 trillion ($350 billion).
This presents a significant opportunity for the sector to contribute up to 15 percent of the country’s gross domestic product by the end of the decade.
Advanced infrastructure and joint investments in clean energy projects with the Ministry of Energy are driving investment attraction efforts, according to Al-Salem.
The RCJY offers financial incentives and operating costs described as the lowest in the region to attract investment.
Additionally, the commission is working towards transforming its cities into smart cities and supporting factories and companies in adopting applications based on the Fourth Industrial Revolution.
Overall, the RCJY’s focus on new sectors, commitment to infrastructure development, and efforts to diversify investments are contributing to its success in attracting global investment and driving economic growth.
According to RCJY President Khalid Al-Salem, current investments have already surpassed the SR1.5 trillion mark, with an additional SR500 billion worth of investments currently under negotiation across various sectors.
The RCJY manages four industrial cities within the Kingdom, spanning a total area of 2,175 sq.
kilometers and home to approximately 380,000 residents.
These cities include Jazan City for Primary and Downstream Industries, Jubail Industrial City, Ras Al-Khair Industries City, and Yanbu Industrial City.
In an effort to diversify its investment portfolio, the RCJY is focusing on new sectors such as logistics and downstream manufacturing based on existing core industries within its cities.
This shift aligns with Saudi Arabia’s goal of ranking among the top 10 countries in the global logistics performance index.
The country has already shown significant progress in this area, including a reduction in customs clearance time from nine hours to less than two hours and a cargo volume growth rate of 32 percent.
The mining sector is also emerging as a key target industry for investments, as Saudi Arabia continues its transformation towards a more diversified economy.
The RCJY is actively working to attract major mining investments to its industrial cities, taking advantage of the Kingdom’s rich mineral resources.
According to recent estimates, Saudi Arabia has untapped mineral resources worth approximately SR2.5 trillion ($666 billion), up from an initial estimate of SR1.3 trillion ($350 billion).
This presents a significant opportunity for the sector to contribute up to 15 percent of the country’s gross domestic product by the end of the decade.
Advanced infrastructure and joint investments in clean energy projects with the Ministry of Energy are driving investment attraction efforts, according to Al-Salem.
The RCJY offers financial incentives and operating costs described as the lowest in the region to attract investment.
Additionally, the commission is working towards transforming its cities into smart cities and supporting factories and companies in adopting applications based on the Fourth Industrial Revolution.
Overall, the RCJY’s focus on new sectors, commitment to infrastructure development, and efforts to diversify investments are contributing to its success in attracting global investment and driving economic growth.
