Saudi Arabia launches second phase of industrial incentives with support up to $13.5m per project
The Ministry of Industry and Mineral Resources, in partnership with the Ministry of Investment, announced the second set of standard industrial incentives, expanding support to additional strategic sectors as part of Saudi Arabia's push for sustainable industrial development under Vision 2030.
Unveiled during the Saudi Industry Forum (SIF 2025) at Dhahran Expo by Vice Minister of Industry and Mineral Resources for Industry Affairs Khalil Ibrahim Ibn Salamah, the new incentive package builds on the success of the first wave launched in January 2025, which targeted the downstream chemicals, automotive, and machinery and equipment sectors.
Saudi industrial incentives
Expanded scope to include new strategic industrial sectors
Support of up to 35 per cent of the initial investment value
Maximum SR50m ($13.5m) in support per project
Incentives are distributed evenly across construction and production phases
Funding available for up to seven years
The initiative is designed to attract both local and international investors to produce goods not yet manufactured in the Kingdom, reduce import dependence, and build a globally competitive industrial base.
Interested investors can access the updated investor guide and submit applications via:
The incentive programme is the first of its kind in the region, offering both financial and operational support while aligning with the Kingdom's broader economic diversification agenda.
As applications from the first round are still under review, letters of intent will be issued to qualified industrial projects shortly, according to the ministry.
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