{"id":86746,"date":"2015-03-04T09:54:07","date_gmt":"2015-03-04T06:54:07","guid":{"rendered":"http:\/\/www.amlak.net.sa\/?p=3087"},"modified":"2015-03-04T09:54:07","modified_gmt":"2015-03-04T06:54:07","slug":"%d8%ae%d9%84%d8%a7%d9%84-%d9%85%d9%86%d8%aa%d8%af%d9%89-%d8%a7%d9%84%d9%81%d8%b1%d8%b5-%d8%a7%d9%84%d8%b5%d9%86%d8%a7%d8%b9%d9%8a%d8%a9-%d9%88%d8%b2%d9%8a%d8%b1-%d8%a7%d9%84%d8%aa%d8%ac%d8%a7%d8%b1","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/86746\/","title":{"rendered":"During the Industrial Opportunities Forum, the Minister of Commerce emphasizes his keenness for an ideal industrial environment with highly competitive incentives"},"content":{"rendered":"

The Minister of Commerce and Industry stated Dr. Tawfiq bin Fawzan Al-Rabiah<\/strong> The Kingdom is committed to creating an attractive environment for industrial investment by offering a system of incentives and facilities that are considered the best in the region, including industrial land available at nominal rents and loans from the Industrial Fund covering up to 75% of the capital, with a repayment period of up to 20 years, electricity rates that are the lowest in the region, export guarantees and financing, and customs exemptions for raw materials and machinery, all aimed at fostering a competitive industry and balanced development across all regions, describing the investment environment in the Kingdom as highly encouraging. He added that the Ministry is interested in launching a package of initiatives to make the Kingdom a hub for advanced industries in the region.<\/p>\n

Warnings Against Encroachment on Commercial Land<\/p>\n

\u00a0\u00a0\u00a0\u00a0<\/strong>Al-Rabiah made these remarks during the \u201c4th Industrial Opportunities Forum\u201d organized by \u201cMODON\u201d yesterday under the title \u201cIndustrial Integration: Promising Opportunities for Male and Female Entrepreneurs,\u201d to his concerns about the return of commercial investment in industrial land, given the vast and abundant availability of such land, calling on everyone to use it for industrial investment<\/strong>.<\/strong><\/p>\n

He explained that \u201dthere are industrial sites in more than 20 locations, and the Authority continues to strive for development and to deliver the best,\u201c noting that \u201dMadin\u201d is currently working to provide cities with comprehensive services in terms of housing, schools, and hospitals to create a well-rounded industrial environment<\/strong>.<\/strong><\/p>\n

Active Participation by National Companies in International Forums<\/strong><\/p>\n

The Minister of Commerce announced that the Kingdom will participate in the food exhibition scheduled to take place in the UK next April, with 60 Saudi companies taking part, noting that this is the Kingdom\u2019s largest-ever participation in an international event<\/strong>.<\/strong> He added: \"We had 130 Saudi companies participating in Dubai over the past few months, and the goal is to showcase the development of our country's industry to the world.\".<\/p>\n

Support for Startups and Small and Medium-Sized Enterprises<\/strong><\/p>\n

Al-Rabiah emphasized support for startups and small-to-medium-sized enterprises, as well as the importance of industrial development in the Kingdom. He stressed the need to focus on diversifying sources of income for young people interested in investing in industry, and anticipated that industrial opportunities would be presented during the forum, describing these opportunities as promising.<\/strong>.<\/strong><\/p>\n

6,871 factories and one trillion riyals<\/strong><\/p>\n

The minister revealed that the Kingdom, represented by the Export Authority, is targeting specific countries with the aim of increasing exports to them, expecting that this step will help develop Saudi industry, noting the rise in the number of factories in the Kingdom, which has reached 6,871, with an estimated investment of one trillion riyals and employing 935,000 people.<\/p>\n

Business Incubators for Industrial Sector Development<\/strong><\/p>\n

For his part, Engineer Saleh Al-Rashid, Director General of the Industrial Cities Authority (MODON), explained that the Authority has a strategy that bridges entrepreneurs and industrial opportunities to provide the necessary resources to support our industries<\/strong>.<\/strong><\/p>\n

Al-Rashid stated that the Authority will focus this year on identifying male and female entrepreneurs and investments targeting women, while the Authority has worked to establish turnkey factories and has begun setting up industrial incubators to develop the industrial sector, whether in light or medium industries, which are considered environmentally friendly<\/strong>.<\/strong><\/p>\n

Awarding electricity contracts to the contractors with the highest percentage of Saudi employees\u201c<\/strong><\/p>\n

Meanwhile, Khalid Al-Ghamdi, project manager for the localization of the electricity industry at the Saudi Electricity Company, revealed that the company is working to award contracts to local contractors with the highest rates of national workforce localization and the highest percentage of locally manufactured materials, noting that there is a policy to incentivize local factories and give them priority over foreign counterparts in procurement by a ratio of 10<\/strong>%.<\/strong><\/p>\n

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