Bandar Alkhorayef, Minister of Industry and Mineral Resources

Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, said that 900 plants began production in 2024, while the number of licenses significantly increased to possibly surpass 1,100.

 

Speaking at the Budget Forum 2025, Alkhorayef pointed out that the Saudi Industrial Development Fund (SIDF) solely provided financing worth SAR 12 billion in 2024 for projects totaling more than SAR 60 billion.

 

All the previous indicators underpinned the continued flow of investments into the Saudi industrial sector, the minister noted.

 

He added that the ministry aims to market and promote more than 450 investment opportunities under its National Industrial Strategy.

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