JEDDAH: Saudi Arabia’s Tabuk region offers over 120 investment opportunities across sectors, from large projects to small businesses, leveraging its young workforce and strong consumer demand, a top official said.
The region’s mayor, Hussam bin Muwafaq Al-Youssef, and local business leaders discussed important initiatives and investment opportunities in the municipal sector. The meeting, part of the “Chamber’s Diwaniya” events during Ramadan, aimed to strengthen communication, encourage dialogue, and exchange ideas.
The gathering was also attended by Imad Al-Fakhri, chairman of the Tabuk Chamber of Commerce, and members of the organization’s board of directors, according to the Saudi Press Agency.
The northwestern region is undergoing a major transformation, hosting some of the Kingdom’s most innovative projects and significant investments. It aims to become a leading tourism destination along the Red Sea.
A key driver of this change is NEOM, a futuristic urban development that merges natural wonders with cutting-edge technologies. As Saudi Arabia’s largest giga-project and a central element of Vision 2030, NEOM, along with AMAALA and the Red Sea projects, are set to fuel growth and attract substantial investment across various sectors.
During the gathering titled “Tabuk ... Your Investment Destination,” Al-Yousef discussed key regional developmental and economic projects and shed light on his mayoralty’s plans to improve quality of life and attract investments.
The mayor highlighted some of the region’s competitive advantages, such as manufacturing, agriculture, mining, energy, and tourism, which have contributed to boosting Tabuk’s investment appeal.
He discussed the area’s significant potential, particularly in the tourism sector and said the municipality is working to create an investment-friendly environment by offering a variety of flexible processes and support to investors and entrepreneurs.
Al-Youssef said Tabuk boasts valuable assets, specifically its young talent, population structure, and purchasing power, placing the region third in the Kingdom for per capita consumption.
He added the municipality has over 120 available investment prospects across different sectors, including large, medium, and small-scale projects.
He encouraged business leaders to seize the opportunities and invest in the growing sectors, particularly with the government’s ongoing support for the private sector.
Al-Fakhri praised the municipality’s efforts in creating a competitive business environment and supporting investors and commended the collaboration between the public and private sectors in driving development, attracting investments, and overcoming challenges to benefit the region and its residents.
Al-Yousef listened to attendees’ feedback on the challenges investors face in the municipal sector and received suggestions for improving the investment environment and municipal services.
