抖阴短视频

RIYADH: 抖阴短视频 is taking a flexible approach to distributing its SR10 billion ($2.66 billion) standardized incentive program to maximize its impact across industries, according to a senior official. 

In an interview with Arab News on the sidelines of the Standard Incentives for the Industrial Sector event, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said the program is designed to align with investor demand and deliver optimal returns.  

鈥淲e are now very flexible with regards to the split between different sectors because we would like to see, you know, how the appetite of the investor and where are the areas where maybe the program needs to focus more and put more effort,鈥� Alkhorayef said. 

The SR10 billion standardized incentive program, announced by Alkhorayef in his opening speech, aims to empower industrial investments and promote sustainable development. 

Covering up to 35 percent of a project鈥檚 initial investment, capped at SR50 million per project, the program seeks to reduce reliance on imports by targeting sectors with high dependency on foreign products and no local production. 

The initiative targets at least 200 projects, focusing on industries where the Kingdom relies heavily on imports. 

鈥淔rom the impact, the impact is mainly going to be on the balance of payment where all of the products that we have targeted are products where we have a lot of imports but there is no local production,鈥� Alkhorayef said. 

The objective is to 鈥渞educe our imports鈥� while enhancing the industrial sector鈥檚 capabilities through new products and technologies. 

The program is inclusive, accommodating foreign and local investors. 鈥淎ny investor who registers as a Saudi investor doesn鈥檛 have to be a Saudi national, so even foreign investors can tap into this opportunity,鈥� Alkhorayef said. 

Two key requirements guide eligibility: the project must align with targeted products listed in the program, and the program will contribute up to SR50 million, not exceeding 30 percent of the project鈥檚 total investment size. 

To ensure effective fund allocation, an inter-ministerial committee with representatives from the ministries of industry, investment, economy, finance, and energy evaluates each project. 

鈥淭hey look at the different opportunities 鈥� what does the project bring to the table in terms of value, and then based on that, it鈥檚 allocated,鈥� Alkhorayef said. 

Unlike previous models tailored for large-scale projects, the current program has been designed to cater to SMEs. 

鈥淭oday, we had to really design something that is more approachable by SMEs,鈥� Alkhorayef added. 

The minister emphasized the program鈥檚 focus on chemicals, automotive, and machinery sectors while maintaining flexibility to adapt to changing investor interests. 

As part of 抖阴短视频鈥檚 Vision 2030 strategy, the incentive program aims to attract high-value investments, diversify the industrial base, and build a globally competitive manufacturing ecosystem.