Logo ofMinistry of Industry and Mineral Resources
Ministry of Industry and Mineral Resources, in collaboration with Ministry of Investment, announced on Jan. 11 the launch of the Standard Incentives Program. 
Bander Alkhorayef , Minister of Industry and Mineral Resources, stated that nearly SAR 10 billion have been allocated to activate these incentives, which will be rolled out in phases.
The program provides opportunities for innovative projects aimed to develop Saudi Arabia’s industrial capabilities. This is besides complementing the Kingdom’s economic vision, including Vision 2030 and national strategies such as the National Investment Strategy and the National Industry Strategy, ensuring consistency and maximizing impact.
These incentives focus on boosting investment by focusing on key sectors and products that are not currently being produced locally, hence fostering diversification and achieving self-sufficiency.
Moreover, the incentives support Saudi Arabia’s goals to attract foreign direct investment and drive industrial growth by luring new foreign investors who have not yet established themselves in Saudi Arabia to apply.
Furthermore, the program provides sustainable financial and operational empowerment for up to seven years, covering both the construction and operation phases, thereby bolstering manufacturing projects. Additionally, they offer coverage of up to 35% of the eligible initial investment, with a maximum of SAR 50 million per project.
The incentives aim to maximize the benefits of high-value industrial investment opportunities and enhance Saudi Arabia’s competitiveness at the regional and global levels.
The primary objectives of the Standard Incentives Program include contributing to the achievement of the National Investment Strategy and the National Industry Strategy goals, attracting a large number of potential beneficiaries across a wide range of industrial products, specifically those not being produced in Saudi Arabia, and accelerating the launch of new products in the Saudi market while providing an exceptional experience for beneficiaries.
Moreover, the program aims to hasten the launch of new products in the Saudi market and provide an exceptional experience for beneficiaries. It also seeks to enhance the sustainable competitiveness of the Saudi industrial sector, through the localization of products with a sustainable long-term cost competitiveness.
Eligible applicants include a diverse range of legal entities, such as sole proprietorships, joint liability firms, limited partnerships, joint ventures, joint-stock companies, and limited liability companies.
Projects are eligible for the standard incentives if they entail the establishment of a new facility or the expansion of an existing one for the manufacturing of products that are not currently being locally produced.
Logo ofMinistry of Industry and Mineral Resources
Ministry of Industry and Mineral Resources, in collaboration with Ministry of Investment, announced on Jan. 11 the launch of the Standard Incentives Program.
Bander Alkhorayef , Minister of Industry and Mineral Resources, stated that nearly SAR 10 billion have been allocated to activate these incentives, which will be rolled out in phases.
The program provides opportunities for innovative projects aimed to develop Saudi Arabia’s industrial capabilities. This is besides complementing the Kingdom’s economic vision, including Vision 2030 and national strategies such as the National Investment Strategy and the National Industry Strategy, ensuring consistency and maximizing impact.
These incentives focus on boosting investment by focusing on key sectors and products that are not currently being produced locally, hence fostering diversification and achieving self-sufficiency.
Moreover, the incentives support Saudi Arabia’s goals to attract foreign direct investment and drive industrial growth by luring new foreign investors who have not yet established themselves in Saudi Arabia to apply.
Furthermore, the program provides sustainable financial and operational empowerment for up to seven years, covering both the construction and operation phases, thereby bolstering manufacturing projects. Additionally, they offer coverage of up to 35% of the eligible initial investment, with a maximum of SAR 50 million per project.
The incentives aim to maximize the benefits of high-value industrial investment opportunities and enhance Saudi Arabia’s competitiveness at the regional and global levels.
The primary objectives of the Standard Incentives Program include contributing to the achievement of the National Investment Strategy and the National Industry Strategy goals, attracting a large number of potential beneficiaries across a wide range of industrial products, specifically those not being produced in Saudi Arabia, and accelerating the launch of new products in the Saudi market while providing an exceptional experience for beneficiaries.
Moreover, the program aims to hasten the launch of new products in the Saudi market and provide an exceptional experience for beneficiaries. It also seeks to enhance the sustainable competitiveness of the Saudi industrial sector, through the localization of products with a sustainable long-term cost competitiveness.
Eligible applicants include a diverse range of legal entities, such as sole proprietorships, joint liability firms, limited partnerships, joint ventures, joint-stock companies, and limited liability companies.
Projects are eligible for the standard incentives if they entail the establishment of a new facility or the expansion of an existing one for the manufacturing of products that are not currently being locally produced.
