Saudi Arabia’s Ministry of Industry and Mineral Resources, in cooperation with the Ministry of Investment, has unveiled the second set of standard incentives for the industrial sector.
This initiative expands the scope of support to include additional strategic industrial sectors, with the aim of stimulating industrial investment, accelerating sectoral growth and achieving sustainable industrial development. It also seeks to enhance the global and regional competitiveness of Saudi industry.
Engineer Khalil Ibrahim Ibn Salamah, vice minister of industry and mineral resources for industry affairs, announced the launch of the incentives during the Saudi Industry Forum (SIF 2025).
Support reached SAR50 million per project
Saudi Arabia unveiled the first set of incentives for the industrial sector in January 2025 during an official ceremony and garnered strong interest from investors. It initially targeted three industrial sectors: downstream chemicals, automotive and machinery and equipment. Applications for support are currently under review, and letters of intent will be issued for qualified industrial projects.
The second set of incentives targets additional strategic sectors. Investors can now explore these opportunities through an updated investor guide, available on the Invest Saudi and Senaei platforms. This standard incentive program is the first of its kind in the region and is designed to enable the domestic production of goods that are not yet manufactured in Saudi Arabia.
The program offers sustainable financial and operational support for up to seven years. Support may reach up to 35 percent of the initial investment value, capped at SAR50 million ($13.5 million) per project. The incentive is distributed equally between the construction and production phases.
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Saudi Industry Forum 2025 sees SAR9 billion agreements
Governor of the Eastern Region, Prince Saud bin Naif bin Abdulaziz, inaugurated on Monday the Saudi Industry Forum (SIF) 2025 at Dhahran Expo, where he witnessed the signing of industrial agreements worth more than SAR9 billion.
Held with the support of the Ministry of Industry and Mineral Resources and in partnership with public, private and non-profit sector entities, the forum underscores Saudi Vision 2030’s goals to diversify the economy and boost the industrial sector’s contribution to GDP.
In his opening remarks, Prince Saud highlighted Saudi Arabia’s success in building a solid industrial base that integrates advanced technology with qualified national talent. “The Eastern Region has become the capital of Saudi industry,” he said, noting its advanced industrial cities and production complexes that underpin the Kingdom’s regional and global leadership in several strategic sectors.
Running until June 25 under the theme “Our Industry in a New Era: Digital Transformation and Sustainable Development,” the forum features more than 320 exhibitors from leading local and international companies, as well as 78 speakers, including industry experts and economic policymakers.
