Al-Khorayef: 212 industrial loans worth SR17 billion granted in 2020
Saudi Gazette report
RIYADH – Minister of Industry and Mineral Resources Bandar Al-Khorayef said the Saudi Industrial Development Fund (SIDF), under the ministry, had approved a total of 212 industrial loans, amounting to SR 17 billion. during the year 2020.
“This is an unprecedented amount since the fund was created. The ministry has a clear direction in empowering and supporting industrial investors through funding packages provided by SIDF, ”he said.
The minister made the remarks during an open meeting with a number of investors, businessmen, entrepreneurs and young people from the Al-Qassim region.
He noted that the industrial sector is going through a golden age and experiencing continuous harmony between all sectors of the system.
Al-Khorayef stressed the ministry’s desire to develop the industrial sector and create new industries based on innovation and digital technologies, in addition to achieving the best performance results.
“There are important avenues the ministry is working on to complete construction on the existing base and take advantage of natural resources and work to increase added value.
The ministry is also working on the saudization of locally consumed product sectors by stimulating investment in the industrial sector to convert what we import into local production, and by adopting the techniques of the Fourth Industrial Revolution to make significant leaps in this promising sector. “, he added. .