Saudi Arabia’s National Industrial Development and Logistics Program (NIDLP) has so far granted loans amounting to SR 5 billion ($1.33b) to over 40 Saudi exporters and increased private sector investments to over SR35 billion, according to a local Saudi newspaper report.
The NIDLP, launched last year by Crown Prince Mohammed bin Salman, is a program within Vision 2030 designed to focus on industrial development through government investment and attracting private-sector investment in four key industries: mining, industry, logistics, and energy.
The NIDLP focuses on industrial development through government investment and attracting private-sector investment in four key industries.
NIDLP aims to boost the contribution of these sectors to $320 billion by 2030 to GDP, stimulate investments worth more than $426 billion, and increase the volume of non-oil exports to over $260 billion within an unspecified time period. It also seeks to generate 1.6 million new jobs.
The NIDLP falls under the Ministry of Industry and Mineral Resources.
The local Okaz newspaper reported that Saudi Arabia jumped 72 global positions in Trading Across Borders — an indicator which compares the time and cost of exporting and importing goods — after the launch of Fasah platform, which facilitates faster processing of shipments.
