Saudi Arabia Offers 120+ Enablers to Investors in Industry and Mining Sector

Saudi Arabia Offers Over 120 Incentives to Boost Industry and Mining Investments

RIYADH: Saudi Arabia’s Industry and Mining Organization offers more than 120 incentives and incentives to investors in the sectors to help them tap into promising opportunities, a top official said.

During a meeting with investors at the Najran Chamber, the Minister of Industry and Mineral Resources, Bandar Al-Khoraif, said those catalysts contribute to overcoming the challenges facing their investment journey, the Saudi Press Agency reported.

Al Khoreif stated in his address that the Najran region is one of the most attractive peripheral locations for the ministry’s industrial finance, with a financing rate of up to 75% of the project volume.

With mineral resources valued at SR9.4 trillion ($2.5 trillion) as of April 2024, Saudi Arabia is on track to establish mining as the foundational industrial pillar of the national economy.

In the meeting, the minister acknowledged the role played by the Export-Import Bank of Saudi Arabia.

The comparative advantages of national production and its high quality indicate that the country-wide industrial strategy targets 12 sub-industrial sectors; Part of these sectors depend on existing regional natural resources, which offer attractive opportunities for investors.