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  • Written on 22.10.2014 - Industry
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SAUDI ARABIA: Saudis urge formation of commission to encourage growth of PC industry

Economists in Saudi Arabia are calling on the government to create a petrochemical industry commission to promote and facilitate growth of the local petrochemical sector, the Saudi Gazette reported.

There is a need to promote interaction with investors and a need for further regulation and facilities to overcome some of the current obstacles, especially the issuing of project permits and licenses, a process that involves numerous ministries and government agencies, factors that deter potential investors.

“There should be a single body to grant such approvals,” Economist and industrial expert Fadl Albuainain suggested. He noted that politics and economic policy have set clear objectives for industries, resulting in the creation of the Royal Commission for Jubail and Yanbu.

Source: Weekly "PetroChemical News", Durham, NC, USA; 20 Oct 2014
(Syed Rashid Ali, Karachi, Pakistan)


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