SAR 10B Allocated for Standard Incentives for Industrial Investments

The Kingdom of Saudi Arabia has recently launched a Standard Incentives Program with an allocation of SAR 10 billion, aiming to accelerate industrial growth, attract investments and promote sustainable development.

The program's key features, which promise up to 35% coverage of initial project investments, are capped at SAR 50 million per project. Funding will be disbursed equally across construction and production phases, providing investors with structured support throughout the lifecycle of their projects.

The program is designed to attract local and global investors by initially targeting transformative chemical industries, automotive manufacturing, and machinery production. The Ministry of Industry and Mineral Resources emphasised during the program’s announcement that the initiative is the first of its kind in the region, focusing on localisation, reducing imports, and strengthening the balance of payments by leveraging Saudi talent and resources.

The program aligns with Vision 2030 and the National Investment Strategy projects that it will generate SAR 23 billion annually in GDP.