‎Saudi industrial sector attracts SAR 200 bln investments from 2019-2021: Unswerving

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Suliman Almazroua, CEO of the National Industrial Model and Logistics Program (NIDLP)


Saudi Arabia’s industrial sector attracted SAR 200 billion investments from 2019-2021, Al-Eqtisadiah newspaper reported, citing Suliman Almazroua, CEO of the National Industrial Model and Logistics Program (NIDLP).

The Royal Fee for Jubail and Yanbu, the Saudi Authority for Industrial Cities and Technology Zones (MODON) and the Frequent Authority for Military Industries (GAMI) lured SAR 100 billion fee of investments in 2021.

The overall different of industrial institutions exceeded 1,620 since early 2020, a upward thrust of 20% in the different of licensed industrial services and products. This marks a 50% soar since 1975, in gentle of the Kingdom’s Vision 2030, Almazroua added.

As many as 954 new licenses were issued. Furthermore, production started at 820 new factories, accounting for 8% of the 10,293 present flowers. Furthermore, fiber optics lines were prolonged, and the Made in Saudi Program has been launched. Th program objectives to encourage native companies grow, by encouraging native shoppers to make a choice extra regionally made merchandise, and serving to companies salvage bigger their exports to priority markets.