HiJazzey
June 18th, 2005, 01:33 PM
This is a snip of an article I found today. It says there are plans to create a free trade zone in an island just off Yanbu.
Khaleej times (http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2005/June/business_June389.xml§ion=business&col=)
JEDDAH — Al Abbassi Island, which is close to the Yanbu port, is to be turned into a free trade zone, and the Yanbu Chamber of Commerce and Industry has appointed a consulting company to provide a feasibility study regarding the island's transformation.
The chamber move is in keeping with an initiative presented by Prince Miqren bin Abdul Aziz, Governor of Madinah, suggesting that the Island be transformed into a free zone.
The initiative by the Prince followed a meeting between the Saudi Arabian General Investment Authority (SAGIA) and the Saudi Arabian Investment Promotion Commission, where three investment ideas were discussed. The first idea revolved around expanding the Prince Mohammed bin Abdul Aziz Airport in Madinah to allow it to handle more international flights, the second involved making Yanbu an international trade destination and the third was involving the Centennial Fund that would seek out new investors in the Madinah region, along with promising entrepreneurs.
...
Well if this goes ahead, it will be a major boost for Yanbu, I'm sure it would be a great success.
I'm not sure, but I think Abbasi Island is the big island in the middle of this photo:
http://content.answers.com/main/content/wp/en/f/fc/Fm_nasa_yanbu_saudi_arabia.jpg
BTW. Regarding Medina Airport: Expansion has already been given the green light. I read it a few weeks ago.
Khaleej times (http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2005/June/business_June389.xml§ion=business&col=)
JEDDAH — Al Abbassi Island, which is close to the Yanbu port, is to be turned into a free trade zone, and the Yanbu Chamber of Commerce and Industry has appointed a consulting company to provide a feasibility study regarding the island's transformation.
The chamber move is in keeping with an initiative presented by Prince Miqren bin Abdul Aziz, Governor of Madinah, suggesting that the Island be transformed into a free zone.
The initiative by the Prince followed a meeting between the Saudi Arabian General Investment Authority (SAGIA) and the Saudi Arabian Investment Promotion Commission, where three investment ideas were discussed. The first idea revolved around expanding the Prince Mohammed bin Abdul Aziz Airport in Madinah to allow it to handle more international flights, the second involved making Yanbu an international trade destination and the third was involving the Centennial Fund that would seek out new investors in the Madinah region, along with promising entrepreneurs.
...
Well if this goes ahead, it will be a major boost for Yanbu, I'm sure it would be a great success.
I'm not sure, but I think Abbasi Island is the big island in the middle of this photo:
http://content.answers.com/main/content/wp/en/f/fc/Fm_nasa_yanbu_saudi_arabia.jpg
BTW. Regarding Medina Airport: Expansion has already been given the green light. I read it a few weeks ago.