48 investment opportunities under phase 1 of Standard Incentives Program: SIDF Spokesperson 

Khalil Alnammari, Spokesperson of the Saudi Industrial Development Fund (SIDF)

Khalil Alnammari, Executive Vice President of Strategic Planning & Business Development and Spokesperson at the Saudi Industrial Development Fund (SIDF), announced that nearly 50 investment opportunities in automotive, machinery, equipment, and downstream chemicals will be rolled out in the first phase of the industrial sector’s Standard Incentives Program.

The SIDF collaborated with the Ministry of Industry and Mineral Resources to launch the first phase of the program, he said in an interview with Argaam.

Alnammari noted that the focus is on three core sectors for the offering of 48 investment opportunities.

Further opportunities in mining, food, pharmaceuticals, and medical equipment will be announced throughout the year, in line with the National Industrial Strategy.

Incentives under this phase of the program amount to around SAR 10 billion, Alnammari further stated.

Applications can be submitted via the Ministry of Industry’s Senaei platform, offering incentives covering up to 35% of a project’s initial investment value or a maximum of SAR 50 million per each, depending on the completed application models.

Registration will remain open for 10 weeks. Qualified applicants will be contacted for the following steps.