In a meeting that is organized by the Chamber this Sunday,
The Saudi Industrial Development Fund reviews strategy for Asharqia industrialists.
Asharqia Chamber will organize an open meeting for investors in the industrial sector with the Saudi Industrial Development Fund (SIDF) on Sunday, June 3, 2018 in the presence of the Director General of the Fund, Dr. Ibrahim bin Saad Al-Mujal, during which the strategy of the Fund will be reviewed in order to achieve the objectives of the Kingdom Vision 2030.
The Chamber's Board Member and Chairman of the Industry and Energy Committee, Ibrahim Al-Sheikh, said that this meeting comes within the framework of the Chamber's efforts to achieve communication with government agencies and work to deepen the state of integration between the public and private sectors.
He pointed out that the industrial sector is witnessing great developments; it is one of the most attractive sectors for domestic and foreign investments, and it depends on a lot of economic activities.
Therefore, the issue of support and funding is vital in this aspect, which is provided by the Industrial Development Fund that is always keen to provide all in order support the industrial sector and develop its outputs to serve the national economy.
The Industrial Development Fund aims to achieve the objectives, policies and programs of industrial development in the Kingdom by providing the necessary financial and advisory support for the growth and development of local industry and raising the level of performance.
The Fund seeks to achieve a good return on investment for industrial investment through replacing the national product with imports, strengthening non-oil exports, integrating the industrial and other sectors, increasing job opportunities for Saudis by encouraging Saudization in the industrial sector, optimizing the utilization of local raw materials, attracting foreign capital, transferring and localizing technology, spreading the culture of industrial safety and preventing risks in industrial establishments, and spreading the culture of environmental preservation in the industrial sector.
