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 Encouraging industrial investment opportunities in the Kingdom

Encouraging industrial investment opportunities in the Kingdom

Effective presence of the Saudi Industrial Development Fund (SIDF) at the 4th U.S.-Saudi Business Opportunities Forum

SIDF had effective presence  and participation in the fourth U.S.-Saudi Business Opportunities Forum held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdul Aziz (may Allah protect him), which was organized by the Ministry of Commerce and Industry in cooperation with the US-Saudi Business Council.

Addressing the fourth panel discussion on the theme of " Investment Support to Expand Saudi Industrial Capacity" Mr. AbdulKarim Al-Nafie, SIDF Director General, presented a working paper in which he demonstrated the Fund's role and activities.

Mr. Al-Nafie stressed the Kingdom's commitment to provide attractive environment that enhances industrial investment in the Kingdom, referring to the Fund's Industrial  development strategy, which is committed to provide full investment support to expand Saudi industrial capacity. He elaborated that this is achievable by stimulating investors to setting up industrial projects, expanding partnerships between local and foreign investors, along with supporting localization, know-how transfer, innovation, human resources development and optimal exploitation of the Kingdom's natural resources.

SIDF Director General outlined that the strong and established economic relations between the Kingdom and the United States contribute to increased opportunities for strategic partnership between the two parties in Saudi industrial sector. He referred to industrial sector's remarkable development which encourages local and foreign businessmen and investors to increase their contribution to the sector growth, eventually leading to comprehensive industrial development, a goal that the Government of Custodian of the Two Holy Mosques is keen to foster and support.

It is worth mentioning that US-Saudi Business Opportunities Forum serves as a primary platform upon which to build a new and even more productive economic and commercial relationship between the United States and Saudi Arabia. It is intended to foster, develop, and expand the strategic business alliances between the two countries, and would contribute to the accurate depiction of both business environments and future investments. It is a platform to keep its participants apprised of the most recent developments and business opportunities in both markets, as well as government reforms and the latest trade and investment reports that  are of interest to both parties.

 

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