Saudi industry minister tempts investors with funding incentives

Saudi industry minister tempts investors with funding incentives

Saudi Arabia’s ministry of investments and mineral resources is prepared to finance up to 75 percent of industrial projects in the country, as the kingdom tries to boost its low foreign direct investment (fdi) numbers.  Bandar Al-Khorayef, the minister of industry and mineral resourcespointed to well-developed infrastructure across 36 industrial cities, prefabricated factories ready to […]

Growth in mining industry a priority

Infrastructure and factories in place

Hope to increase low FDI numbers

Saudi Arabia’s ministry of investments and mineral resources is prepared to finance up to 75 percent of industrial projects in the country, as the kingdom tries to boost its low foreign direct investment (FDI) numbers. 

Bandar Al-Khorayef, the minister of industry and mineral resourcespointed to well-developed infrastructure across 36 industrial cities, prefabricated factories ready to operate quickly and long-term leases for operating them as attractive elements for potential investors.

The minister’s comments were focused on mining, and were made to Qatari investors in Doha at an event held by the Qatari Businessmen Association.

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Trade between the two Gulf countries, which returned to normal in 2021 after a Saudi boycott in 2017, remains low. 

The figure rose from 2.1 billion Qatari riyals in 2022 to 3 billion