Saudi Minister Unveils 75% Funding for Industrial Projects, Courts Qatari Investors

KSA, 3 May, 2024 : Saudi Minister of Industry and Mineral Resources, Bandar Al-Khorayef, revealed that the Kingdom offers up to 75% funding for qualitative industrial projects during a recent meeting with Qatari investors in Doha.

The meeting, attended by Saudi Ambassador to Qatar Prince Mansour bin Khalid bin Farhan, highlighted incentives and opportunities in Saudi Arabia's mining sector.

Al-Khorayef emphasized the Kingdom's vast mineral wealth and incentives provided under the industrial and mineral wealth system, including diverse financing sources and well-developed infrastructure across 36 industrial cities.

He underscored the supportive environment for investors, citing ready-made factory products and long-term leases.

The minister stressed the private sector's critical role in driving industrial development, noting the National Industry Strategy's emphasis on a strong partnership with private entities.

This approach reflects Saudi Arabia's commitment to enhancing private sector engagement and fostering opportunities across various fields.

Source : www.saudigazette.com.sa