NIDLP contributes SAR 5 bln loans to 40 Saudi firms

The National Industrial Development and Logistics Program (NIDLP) contributed in granting SAR 5 billion worth loans to over 40 Saudi exporters, and increased private sector investments to more than SAR 35 billion, Okaz newspaper reported.

Launched by the Ministry of Industry and Mineral Resources, NIDLP enabled all sectors to record accelerating growth. Accordingly, Saudi Arabia jumped 72 global positions in the Trading Across Borders Ranking, on launching Fasah platform, which offers 149 services.

Moreover, Taadin (mining) platform issued more than 150 licenses to investors. The National Geological Database (NGD) was also launched to include over 5,500 mining sites.

Last year, NIDLP was inaugurated by Saudi Arabia's Crown Prince Mohammed bin Salman, Argaam reported.

The program aims to raise the contribution of industry, mining, energy, and logistics sectors to the Kingdom’s gross domestic product (GDP) to SAR 1.2 trillion and attract over SAR 1.7 trillion investments, as well as boosting non-oil exports to over SAR 1 trillion.