New Saudi program to target auto, space, renewable energy: official

28/01/2019 Argaam

 

Saudi Arabia’s National Industrial Development and Logistics Program (NIDLP), launched today in Riyadh, seeks to leverage local automobile, space and renewable energy industries, said Abdulaziz Al-Abdulkarim, Deputy Minister of Energy for Industrial Affairs.

 

NIDLP seeks to create new investment opportunities, fulfill the local demand and capitalize on the Kingdom’s resources, he added.

 

“The government is allocating SAR 44 billion for investments in the automobile sector... the Private sector will be the main driver for NIDLP, and we seek to boost its contribution to the Saudi economy at large,” said the senior official.

 

The new scheme is expected to develop national industrial and logistics services through 13 subprograms, in line with Vision 2030.

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