For the past 45 year, SIDF has played a key role in the development of industry in the Kingdom by supporting and empowering the industrial sector by meeting the needs of investors with the development of industry, economy and society at the heart of its efforts.
What do the new bylaws mean?
The bylaws will enable the Fund to extend its support to a number of new and promising sectors by providing a new package of financial services and products that meet the needs of the private sector in the industry, mining, energy and logistics sectors under the National Industrial Development and Logistics Program (NIDLP).
SIDF is the financial enabler of NIDLP, the largest among the Vision's Programs, which aims to add SR 1.2 trillion to GDP by 2030 and transform the Kingdom into a competitive industrial and logistics hub by the development of mining, logistics, energy and industry sectors, which will create value added jobs, improve the balance of payments and develop local content.
The Fund works in partnership with government entities to develop programs and strategies that enable industry, energy, mining and logistics sectors, to support and encourage industry and other economic activities of value to the Kingdom.