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Arabian Business
24-06-2025
- Business
- Arabian Business
Saudi Arabia launches second phase of industrial incentives with support up to $13.5m per project
Saudi Arabia is offering significant incentives for industrial partners looking to develop new projects in the Kingdom. 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.
Leaders
30-05-2025
- Business
- Leaders
Vice Minister of Industry Affairs Inaugurates MS Pharma Biologics in Riyadh
Eng. Khalil Ibrahim Ibn Salamah, Vice Minister of Industry Affairs at the Ministry of Industry and Mineral Resources, inaugurated the MS Pharma biologics manufacturing plant on Thursday during an official tour of Riyadh's 3rd Industrial City. The event also included the launch of several key infrastructure projects aimed at bolstering the Kingdom's industrial capabilities and advancing the localization of strategic sectors. The newly opened MS Pharma facility is the first in Saudi Arabia to produce fully formulated biologic drugs. Covering 3,000 square meters, the plant focuses on the production of treatments for autoimmune diseases, eye disorders, and osteoporosis. The initiative supports the objectives of the National Industrial Strategy by strengthening domestic pharmaceutical manufacturing. During the visit, Eng. Ibn Salamah also inaugurated the 'Montijoon 4' project by Masic Logistics. Spanning 150,000 square meters, the project will offer 156 ready-built factories designed to support SMEs and entrepreneurial industrial initiatives. This tour reflects the ministry's ongoing efforts to foster sustainable industrial growth, promote the localization of high-potential industries, upgrade infrastructure in industrial zones, and deliver integrated support services for innovative manufacturing ventures across Saudi Arabia. Related Topics : Saudi Arabia Showcases Latest Industrial Innovations at Hannover Messe 2025 Saudi Arabia to Spotlight Industrial Innovation at Hannover Messe 2025 Industrial Transformation Saudi Arabia 2025 to Kick Off in December IsDB Group Commemorates Golden Jubilee Celebration Short link : Post Views: 21 Related Stories
