Saudi Industry Minister announces establishment of Industrial Investment Fund Company

Today, Monday, Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef launched an initiative to stimulate local industry to stimulate investment in the industrial sector, increase the proportion of local content and increase efficiency operational capacity, production capacity and competitiveness of local factories.

The minister said that the “Industrial Investment Fund Company” has been established, which will participate with the private sector in investing in the promising opportunities available in strategic and qualitative sectors.

The company will also help encourage entrepreneurs and investors to expand into targeted industry areas by increasing the private sector’s contribution to investment in industrial, energy, mining and logistic projects and developing the economy of the Kingdom contributing to the growth of non-oil GDP and investment in promising projects.

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