On Monday, Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef announced the establishment of “Industrial Investment Fund Company“, which will partner with the private sector to invest in promising opportunities available in strategic and high-value sectors.

Al-Khuraif explained that the company will help encourage entrepreneurs and investors to expand into the targeted sectors, increase the private sector’s contribution to investment in industry, energy, mining, and logistics projects, and develop the Kingdom’s economy by contributing to the growth of non-oil GDP and investing in promising projects.

In addition, the Minister of Industry and Mineral Resources launched yesterday, Monday, an initiative to stimulate local industry to encourage investment in the industrial sector, raise the percentage of local content, and increase the operational efficiency, production capacity, and competitiveness of local factories.