A recent study has urged the creation of a mega industrial estate in Makkah. The Makkah Chamber of Commerce and Industry (MCCI) says the project would help entice investment from the Muslim world, increase industrial exports and cover the general deficit in the Muslim world. The findings of the study were presented to MCCI Chairman Talal Bin Abdul Wahab Mirza, several members of the Board of Directors and 12 leading industrialists on Thursday. The Deputy Chairman of the MCCI Industrial Committee, Muneer Dahlawi, told the audience the study aims to provide a suitable climate for investment as Muslims respect Makkah. The study proposes that international companies be attracted to establish factories in Makkah. This would then attract consumers from the Muslim world. It also suggests an expansion of the Muslim products base and the exporting of these famous products throughout the Muslim world. If the mega industrial estate is built it will achieve three important economic aims. It would create thousands of job opportunities for Saudis in Makkah, raise GNP, cut the cost of commodities and make them more competitive. This would then reduce the consumption bill throughout the Muslim world. The study suggested the estate be built on an area large enough for 100,000 workers and tens of big factories, and that it be close to the Red Sea coast to facilitate import and export. It suggests land on the Al-Shu'aibah Road or Bahra center would be ideal as it is close to the seaport and airport. Muneer Dahlawi admitted that the grand project would require at least SR50 billion. However, this could be raised in two different ways. If the project were to be adopted by King Abdullah, Custodian of the Two Holy Mosques, the government would provide land and fund the infrastructure, he said. The other option is to create a shareholding company that would include participation from Makkah's residents and Saudi Nationals. The mother company would also sell shares throughout the Muslim world to raise capital for the mega industrial estate project. __
