The upcoming fifth industrial forum to be held here Saturday will focus on small and medium businesses in the sector as proposed by young Saudis, and the accommodation of women in the new industrial projects.

Jeddah Chamber of Commerce and Industry (JCCI) Secretary-General Adnan Mandoura said at a press conference Tuesday ahead of the forum that there are now attempts to create more industrial projects to welcome women in the industrial sector.

Women, he said, constitute only 2 percent of manpower in this sector.

Mandoura noted that the innovative ideas are not enough and have to be attached to a clear strategic plan, commitment and capital, adding that the JCCI now offers aid to start-up businesses through their business development center and chamber’s fund.

Abdul Aziz Al-Surai, head of the forum and head of industrial committee at the JCCI, said that the new expansion of 20 million square meters will help boost the industrial sector and will enhance the national income as well.

He hoped through the cooperation of financing association, small and medium projects will get a boost.

Olfat Gabani, deputy head of the industrial committee at JCCI, said she has been selected to talk about women in the industrial sector, however they preferred to drop focus on women as women were able to prove their qualifications in all sectors. "It is rather time to focus on young generations and the opportunities that can be offered for them," she added.

Gabani further said the industrial cities in the Kingdom have jumped from 14 to 28 developed cities under development within 40 years. She noted that the total industrial area in the Kingdom has now reached 110 million square meters from only 42 million square meters initially, and will hit 160 million square meters by 2015.

Asked about how the young generation with innovative ideas could be helped, she said "there is a need to put strategies and ease legislations to help finance the projects of this generation." She hoped for the establishment of more industrial groups that could help create more projects in order to reduce unemployment.

Al-Surai said the forum will highlight four areas – the involvement of technology in the Saudi industrial sector, moving from ideas to implementations, the role of financing associations in supporting industry sector and, challenges facing the sector.

The industrial committee at JCCI has started an initiative in cooperation with a number of local banks and the IDB to help finance small to medium industrial businesses. While banks will be financing the projects, IDB’s Islamic Corporation for Insurance of Investments and Export Credits will be providing the insurance. Senior executive Yasser Alaqi from Islamic Corporation for Insurance of Investments and Export Credits, said "Saudi insurance is not enough, therefore financing is essential. We were able to implement this policy in a number of countries including Turkey, Egypt, Lebanon and Bahrain."

Alaqi added that the Saudi market is weak when in comes to linking insurance services to banking.

Collaboration between the industrial committee and banks will help serve primarily the small-to-medium industrial projects and could also help serve other bigger projects, he noted.