The Ministry of Industry and Mineral Resources said that Saudi Arabia is opening its doors to investment in the automotive and spare parts sector amid growing demand through standardized incentives, which provide competitive opportunities for manufacturers and investors.
The promising investment opportunities in the automotive sector include bus and truck manufacturing, vehicle glass production, vehicle seat belts, cast aluminum products, and electrical wires for vehicles, the ministry said on the social messaging platform X.
Last January, the Ministry and the Ministry of Investment jointly launched the standard incentives program for the industrial sector, according to data available with Argaam.
Nearly SAR 10 billion was allocated to activate the benchmark incentives in several stages.
The Ministry of Industry and Mineral Resources said that Saudi Arabia is opening its doors to investment in the automotive and spare parts sector amid growing demand through standardized incentives, which provide competitive opportunities for manufacturers and investors.
The promising investment opportunities in the automotive sector include bus and truck manufacturing, vehicle glass production, vehicle seat belts, cast aluminum products, and electrical wires for vehicles, the ministry said on the social messaging platform X.
Last January, the Ministry and the Ministry of Investment jointly launched the standard incentives program for the industrial sector, according to data available with Argaam.
Nearly SAR 10 billion was allocated to activate the benchmark incentives in several stages.
