Latest news with #MadinahChamber
Arab News
3 days ago
- Business
- Arab News
Madinah leads Saudi organic aromatics market
RIYADH: Madinah has solidified its position as the Kingdom's largest producer of organic aromatic plants, contributing 78 tonnes — 26.4 percent of the national total of 296 tonnes. This reflects the region's strong agricultural productivity and its key role in medicinal and aromatic plant cultivation, the Saudi Press Agency reported. A recent report by the Madinah Chamber of Commerce detailed the national landscape, showing Qassim as the second-largest producer with 15.9 percent, followed by Riyadh with 14.9 percent and Jazan with 14.7 percent. Together, these four regions account for approximately 72 percent of the Kingdom's total organic medicinal and aromatic plant production, the SPA reported. The report outlined cultivated areas, with Madinah leading at 37 hectares, followed by Qassim with 36, Riyadh with 35, and Jazan with 34 hectares — underscoring strong regional competition in the sector. Madinah mint was identified as the region's most prominent organic aromatic plant, valued for its strong aroma and distinctive flavor, according to the SPA. Its cultivation is deeply rooted in the region's agricultural heritage and presents attractive investment opportunities at various scales. Other aromatic plants grown in Madinah include basil, henna, and moringa. The report also highlighted broader investment opportunities within the aromatic plant production sector.
Zawya
07-05-2025
- Business
- Zawya
Madinah sees implementing 213 development projects worth $56bln
MADINAH — The Madinah Region is currently witnessing the implementation of a total of 213 development projects with a total value exceeding SR210 billion. These included 188 private sector projects and 15 government projects, according to an economic report issued by the Madinah Chamber of Commerce. The total land area allocated for these projects exceeds 15 million square meters. These projects are expected to provide more than 119,000 job opportunities in the future. The report indicated that the commercial sector accounted for the largest share of the list of projects under implementation, with 153 projects, followed by the residential and commercial sector with 27 projects, followed by the health, education, tourism, and religious sectors, respectively. The report showed that the gross domestic product in the Madinah region reached SR57.6 billion in the third quarter of 2024, achieving a growth of 2.8 percent compared to the same quarter of the previous year. The region also recorded the second-highest growth rate in domestic demand at 11 percent, according to points of sale, after Riyadh. It also reviewed the most prominent analytical data witnessed by the economic sector to support decision-making, investors, and entrepreneurs, and attract investments to stimulate economic development in the Madinah region. The report highlighted that real estate market in the Madinah region is witnessing a boom, with a trading volume of SR10 billion during 2024. The unemployment rate in the region decreased to 8.4 percent in the fourth quarter of 2024, compared to 10.3 percent in the third quarter of the same year. Meanwhile, the region's workforce increased to more than 458,000 employees, with economic activity concentrated mainly in the construction, trade, and manufacturing sectors. Mazen Rajab, chairman of the Madinah Chamber of Commerce, emphasized that the report stems from the chamber's commitment to providing the necessary support to investors, providing the data and statistics needed to inform economic decisions, and working to improve the investment and business environment in the region. He stated that the comparative and competitive advantages enjoyed by the Madinah region, and the available investment opportunities, make it a promising environment for growth and prosperity, within the framework and programs of the Kingdom's Vision 2030.
Saudi Gazette
13-03-2025
- Business
- Saudi Gazette
Madinah Emir opens Manafea Forum
Saudi Gazette report MADINAH — Emir of Madinah Region Prince Salman bin Sultan graced the opening of the third edition of the Manafea Forum under the theme "Sustainability in serving the guests of God" at the headquarters of Madinah Chamber on Wednesday. The Emir honored the sponsors and partners who made the forum a great success. The forum is organized by the Madinah Chamber of Commerce and Industry in partnership with the Makkah Chamber of Commerce and Industry and the Islamic Chamber of Commerce and Development. Addressing the forum, Sheikh Abdullah Saleh Kamel, chairman of the Makkah Chamber of Commerce and chairman of the Islamic Chamber of Commerce and Development, and chairman of the Manafea Initiative Board, emphasized that the Manafea initiative enters its third year with determination and continuity, keeping pace with the significant economic and developmental momentum witnessed by Saudi Arabia and contributing to strengthening the status of Makkah and Madinah as a global hub for Islamic business and knowledge activities. "We believe that investing in the sacred place of Makkah and Madinah can be an important contributor to economic and knowledge advancement, not only for Saudi Arabia, but also for the entire Islamic world. Therefore, we strive each year to launch new projects that contribute to achieving this vision, and we seek to attract entrepreneurs and investors from around the world to participate in these unique events," he said. Sheikh Kamel pointed out that the Manafea Initiative will continue its expansion, with plans to launch new events in Madinah, particularly in the field of advanced leadership training for Muslims worldwide, thus enhancing the Kingdom's role in supporting innovation and leadership in the Islamic world. In his speech, Chairman of the Madinah Chamber Mazen Rajab emphasized that the forum embodies a new phase of investment in serving the Two Holy Mosques and their guests. "Service is no longer merely a religious and humanitarian duty, but has also become an economic and investment pillar that contributes to achieving sustainable development in accordance with the Kingdom's Vision 2030," he said. Rajab said that the participation of Islamic chambers in the forum represents a qualitative shift, transcending geographical boundaries and making Madinah the center for their main and subsidiary meetings. He noted that this year's forum adopted a roundtable format to maximize the benefit for attendees and said that the exhibitions and conferences sector is one of the most important and promising sectors, with a global volume of $28.5 billion. The Kingdom ranks second in West Asia and Africa in terms of exhibition space, with 240,000 square meters distributed across 14 regions and cities. The volume of the events market in the Kingdom reached $664 million, of which exhibitions and conferences constitute 9 percent, equivalent to $60 million, with a total of 1,078 exhibitions and 421 conferences, 73 percent of which are for the private sector and 27 percent for the public sector. The global volume of the halal sector reached $7 trillion in 2024, with an expected annual growth rate of 5.5 percent, which opens up broad horizons for investment in this Madinah Chamber chief noted that the economies of Makkah and Madinah, which represent 28 percent of the Kingdom's $1.067 trillion GDP. "This economy relies on several key factors, most notably religious tourism, with the Kingdom receiving 18.5 million Umrah pilgrims in 2024, with expectations of the number rising to 30 million." He stated that the infrastructure, including airports, trains, and roads, which contribute to boosting economic activity. "The growth of the trade sector in the two holy cities reflected in the continuous increase in commercial registrations, in addition to the services sector, which includes health, education, and transportation, as essential factors supporting sustainable development," he announced the new Manafea initiatives for 2025, which include the Creative Economy Series (May 2025), the National Manafea Weeks in Islamic Countries (June 2025), and the Entrepreneurship Forum (November 2025).An agreement was signed between the Madinah Chamber of Commerce and Industry and the Social Development Bank to support and finance small and medium enterprises and entrepreneurs by providing Sharia-compliant financing solutions and training programs to empower emerging forum also witnessed the honoring of the winners of the second edition of the Madinah Environment Award, which aims to promote sustainable environmental practices and support innovation in this field. The Saudi Authority for Industrial Cities and Technology Zones has won first place in the first category — "Developing Vegetation Cover and Combating Desertification." Alfa Plastic Industries won first place in the second category — "Sustainable Use of Plastic." Sharjah Environment Company won first place in the third category — "Producing Environmental Awareness Works." The Royal Commission in Yanbu won first place in the fourth category — "Protecting the Marine Environment."
