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 At General Electric Energy Technology Center's invitation, SIDF showcases its expertise in supporting industrial joint ventures to foreign investors

At General Electric Energy Technology Center's invitation, SIDF showcases its expertise in supporting industrial joint ventures to foreign investors

 

 

 

The Saudi Industrial Development Fund (SIDF) participated in the event organized by the GE Energy Manufacturing Technology Center, titled "Partners for Development" held at the GE Center's headquarters in the 2nd Industrial City in Dammam.

 

SIDF representatives highlighted the mechanisms, procedures and processes of lending and the facilities the Fund provides to the companies interested in industrial investments in the Kingdom. They also outlined the financing programs and loans SIDF provides to encourage and support setting up of industrial joint venture projects. This is based on the belief that direct foreign investment, through joint venture projects, is instrumental in attraction and modern technology transfer to the Kingdom, and is in line with the Kingdom's future plans for knowledge localization and job creation for Saudis.

It is worth stressing that SIDF is keenly paying a particular attention to attract direct foreign investments, especially those major international companies to invest locally, in alignment with the Kingdom Vision 2030. Since its inception until 2016, SIDF approved loans to finance setting up of 717 industrial joint ventures at total value of more than 53 billion riyals.

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