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MCCI to Strengthen Makkah’s Global Economic Position

JEDDAH — The Makkah Chamber of Commerce and Industry plans to convert MCCI into an advanced e-chamber and create an attractive investment climate in Makkah, according to Abdul Wahab Mirza, chairman of MCCI.

“We will also construct a new building for the chamber and a centre for exhibitions and conferences,” he said.

Mirza said the chamber will hold three major economic events with the participation of international experts as part of its efforts to strengthen the holy city’s global economic position.

He added that the chamber has decided to hold the first Makkah Investment Forum, the first conference on Islamic economics and banking and the first real estate forum in the first four years of MCCI’s 20-year plan.

Mansour Abu Rayyash, chairman of the real estate committee at the chamber, said the first real estate forum of MCCI would be held in the beginning of next year. He said the forum would discuss 10 main topics including the current real estate investment atmosphere. He said the real estate development in Makkah and Madinah has taken more than 40 per cent of investment in the Kingdom. He estimated the total real estate investment at nearly SR8 trillion, and added that Real estate investment in Makkah has reached SR750 billion. “Makkah witnessed the largest acquisition of land last year when properties worth SR28 billion were acquired for the new expansion of the Grand Mosque,” he said.

Maher Jamal, a member of the board and spokesman of the MCCI, said the 20-year plan also included administrative development and restructuring of the chamber and increasing the productivity of its staff by providing them with various incentives.

“We intend to introduce the best employee prize monthly and implement projects for financial development and improving performance and developing new investment tools for the chamber?s funds,” he said. The chamber’s technology development programmes include development of its computer system and website and creation of a new database, which will be linked with the ministry of commerce and industry.

“We have set out four main goals for the 20-year plan,” said Ziyad Jameel Farisy, deputy chairman of the chamber. “These include extending excellent service, improving work atmosphere, developing business sector and increasing chamber’s revenues,” he added.

· habib@khaleejtimes.com