A meeting led by the Minister of Economy, Industry, and Investment, Engineer Maeen Hashem Al-Mahaqari, was held to review the current state of Shibam Holding Company for Real Estate Development and Investment, as well as its investment strategies. The meeting included key discussions with the company's Chairman, Abdullah Musfer Al-Shaer, and Vice Chairman, Ibrahim Ghanem Al-Shami, who provided insights into the company's general status, main investment assets, and challenges faced.
Minister Al-Mahaqari emphasized the importance of achieving the strategic objectives outlined by the company’s founding law and leveraging the advantages it offers, which grants Shibam flexible powers as an investment arm of the government. He highlighted the necessity of formulating a realistic, forward-looking investment vision that aligns with current market dynamics, paving the way for new avenues of growth. He encouraged fostering effective partnerships with both public and private sectors to launch successful investment projects that promote a favorable investment environment within the country and support national capital retention and local investment.
The minister also stressed that the company’s short, medium, and long-term plans should align with the Ministry’s directives and the goals of the Government’s Change and Development Program. He underlined the company’s role as a strategic partner in economic development, with a focus on investing in high-value projects that yield tangible benefits for citizens and the national economy.
Expressing confidence in the collaboration with the Board of Directors, Al-Mahaqari underscored the importance of overcoming obstacles to place the company on a path to achievement and success, noting the essential role of diversified investments in the country’s economic strategy.
The meeting further addressed the company's assets, projects, and stalled initiatives, approving a series of steps to advance investment project proposals.
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