The National Industry and Logistics Development Program “Nadlab” and Riyad Bank have allocated six billion riyals for the “We Finance to Manufacture” and ”We Invest to Manufacture,” worth six billion riyals. Both initiatives were held under the patronage and in the presence of Bandar Al-Khorayef, Minister of Industry and Mineral Resources and Chairman of the Program, and Engineer Abdullah bin Mohammed Al-Issa, Chairman of the Board of Directors of Riyad Bank.

The first initiative “We Finance to Manufacture” aims to finance the localization of 50 products across five sectors, with a value of four billion riyals, while the second initiative, “We Invest to Manufacture,” aims to finance investment funds specializing in the industrial sector across three sectors, with a value of two billion riyals.

Both initiatives align with several strategies, such as the localization of manufacturing, the “Sharik” in terms of public-private partnerships, the localization of products in the Kingdom’s balance of payments, and the National Investment Strategy. Both initiatives aim to support the Kingdom’s balance of payments, increase the “local content” ratio, strengthen the Kingdom’s financing environment to localize industry, and encourage local and foreign investors to enter the industrial sector and expand existing factories.

The initiatives will contribute to achieving at least 35 of the targets set out in “Vision 2030,” support the Kingdom’s ranking in ten global ease-of-doing-business indicators, and contribute to the development of 14 economic and social pillars.
Bandar Al-Khorayef, Minister of Industry and Mineral Resources and Chairman of the National Industrial Development and Logistics Program (NIDLP) Committee, explained that such initiatives serve as a prime example of the existing partnership with the financial sector and reflect efforts to achieve the objectives of “Saudi Vision 2030,” which aim to engage the private sector and activate its role in driving transformation in promising growth sectors—most notably the localization of national industries, enhancing their efficiency and competitiveness, and establishing their leadership to serve as a key driver of economic diversification and growth.

He emphasized his commitment and aspiration to deepen cooperation and partnership with the private sector, in a way that benefits the national economy, noting the importance of the existing cooperation between the National Industries and Logistics Services Program "Nadlab" and Riyad Bank, which will contribute to achieving the program’s objectives as intended.