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Riyadh Chamber Celebrates its 50th Anniversary - ASHARQ AL-AWSAT English Archive
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The Kingdom of Saudi Arabia is celebrating the 50th anniversary of the establishment of the Riyadh Chamber of Commerce and Industry [RCCI]. Over the past five decades, the RCCI has served as a mirror reflecting the development of the Saudi economy in general. Today, the RCCI is at the heart of the economic movement taking place in the Arab economic capital. It is celebrating a milestone at the new International Exhibitions Center. It is amazing that the chamber succeeded in facilitating investment opportunities and made accomplishments in the capital city, a matter that will add to its record of achievements and will definitely enable it to host fairs and conferences so that it can compete with other cities in the region, especially as it is located in the heart of the major Arab economy.

The RCCI started off simply but soon managed to deal with the changes and the economic and social requirements of the country. It received whoever came and settled in the capital city whether they came from Al Qasim, Hail, Medina, the Eastern Province, the south or the north and it was active in newly emerging sectors such as agriculture, tourism, the stock exchange etc. It has shown considerable interest in conferences and training. The chamber would have not been so successful without the exceptional vision, administration and leadership of the Governor of Riyadh Prince Salman Bin Abdulaziz who turned Riyadh into an attractive center for investments. Prince Salman prepared suitable industrial zones to attract major industrial investments and established the most important and successful infrastructure a Saudi city has ever seen. In this city, there was careful planning and this resulted in an important network of tunnels, bridges, roads, electricity and sewage networks, and these were successes that made other Saudi cities envious. But this wasn’t enough for Riyadh; it went on to establish complete integral zones one after the other in an attractive and effective manner.

Everybody knows about the Metro, which is expected to cut traffic considerably and directly. Riyadh is also waiting for the vital railway system that will link Riyadh to the western part of the country, which will contribute to easing the transportation of passengers and goods, and alleviating pressure on the flight services. All of this has enabled Riyadh to attract the most important financial companies, banks, insurance and telecommunication companies. This latter category is looking forward to the inauguration of the King Abdullah Financial Center to serve as Riyadh’s financial center and as headquarters to major financial, telecommunications companies and the associated services. Such leadership and vision served as a real form of support and have created an opportunity to push the business sector towards operation and production, thus enabling the RCCI to serve as a mirror reflecting the development of the Saudi economy as a whole. Today, there is a noticeable rise in the service, real-estate and hotel sectors in Riyadh. A large number of major hotels are on the verge of being opened due to the great demand to stay in the city, not to mention numerous wonderful and attractive shops, restaurants and office buildings being constructed as well as other diverse shops and businesses. The Riyadh Chamber of Commerce’s 50th anniversary is a wonderful occasion for the Saudis and is one that deserves congratulations and celebrations. It is also a new accomplishment to be added to Riyadh and to its exceptional governor.

Hussein Shobokshi

Hussein Shobokshi

Hussein Shobokshi is a businessman and prominent columnist. Mr. Shobokshi hosts the weekly current affairs program Al-Takreer on Al-Arabiya, and in 1995 he was chosen as one of the "Global Leaders for Tomorrow" by the World Economic Forum. He received his BA in Political Science and Management from the University of Tulsa.

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