Ministry of Industry launches ‘factories program’, targets 167 entities in several sectors

Logo of Ministry of Industry and Mineral Resources

The Ministry of Industry and Mineral Resources launched the “factories program” aimed at enhancing and stimulating investments, as well as mega qualitative projects in the industrial sector across Saudi Arabia.

The new program targets the largest factories to fulfill the industry objectives in fields of employment, investments, in addition to offering the required support to these entities.

It further features a package of advantages and additional services, including knowledge of the ministry’s strategy, participation in decision making, follow-up on the industrial indices, statistical bulletins, in addition to the factory’s progress in the implementation of automatization.

The program comprises three pillars; namely, the number of employees, size of investments and value of exports, provided that, the number of these factories should not exceed 70% of the industry total investments and the number of factories per sector should not be over 15.

The program targets 167 factories in several industries, with 120 ones in the first phase.

Implementation of the new program does not require any membership requirements; instead, the factories should meet the ministry-set conditions.