More investment in local industry under NIDLP
30/08/22
Saudi Arabia`s National Industrial Development and Logistics Program (NIDLP) invested SAR 378 billion (USD 100 billion) in local industry projects according to its 2021 report.
The program was introduced in 2019 with the aim to transform the country into a leading industrial power and a global logistics platform. It focuses on four main sectors, namely industry, energy, mining and logistics in order to maximise their contribution to Saudi Arabia's efforts to sustainably grow and diversify the economy.
Demonstrating the program’s achievements, the government issued a total of 954 new industrial licenses. In addition, 197 factories were built with a further 820 currently under construction. This figure represents 8% of existing facilities in the country which amount to 10,293 units.
Similarly, in the energy sector the total capacity of renewable energy projects under bidding and execution is equivalent to 7,100 MW. As a result, the Shuaiba Solar Energy Project celebrated producing electricity at a cost of 1.04 cents (US) per kilowatt-hour.
In the mining sector, 164 exploration licenses and 579 building materials quarry licenses have been issued since the launch of the new mining investment law at the end of 2021.
Business Start Up Saudi Arabia has a network of subject matter experts and specialists to assist with activities throughout the lifecycle of a business in the Kingdom of Saudi Arabia. The activities include Market Research & Assessment Saudi Arabia, Saudi Arabia Business Case, Saudi Arabia Business Model Development, Feasibility Study / Business Plan Saudi Arabia, Organizational & Operational Structuring Saudi Arabia, Saudi Arabia Sponsorship & Partnership, Company Formation Saudi Arabia and many others.
Please click on the link to learn more about opportunities and possibilities in the Kingdom of Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.
