Saudi Arabia Launches National Industrial Development and Logistics Program
The National Industrial Development and Logistics Program (NIDLP) was inaugurated on Monday in a ceremony held under the patronage of Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, reported the Saudi Press Agency (SPA).
The program aims to transform Saudi Arabia into a leading industrial power and a global logistics platform.
Minister of Transport, Dr. Nabil bin Mohammed Al-Amoudi said that the Kingdom is witnessing, under the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and follow up from Crown Prince Mohammed, a rapid and unique process of progress and development, represented by the Kingdom’s Vision 2030.
He added that the vision is based on building a productive society, a prosperous economy and an ambitious nation.
He stressed that the NIDLP aims at integrating the capabilities of the Kingdom’s state agencies, as well as attracting and encouraging local and international investments through the energy, industry, mining, and logistics. This will allow Saudi Arabia to become a leading industrial power and a global logistics platform.
Furthermore, Amoudi revealed that more than 300 initiatives are currently underway, stressing that the main driver of this program is the local and international private sector.
He said that the program supported all its initiatives with a wide range of potentials and incentives to attract more than SR1.7 trillion in local and international investments.
This will boost the contribution of the four main sectors to the Gross Domestic Program (GDP) to SR1.2 trillion. It will increase the contribution of the local content to more than SR700 billion and create 1.6 million new jobs and raise the volume of Saudi exports to more SR1 trillion.
Reference: ASHARQ AL-AWSAT
You can download the complete program details and investment opportunities here.