Ministry of Industry launches second phase of Future Factories Program

The Ministry of Industry and Mineral Resources launched the second phase of the Future Factories Program, which targets 217 factories in the first category of the program. These factories achieved an advanced level of self-assessment according to the Smart Industry Readiness Index (SIRI) at 2.4.

The factories, which failed to exceed the self-assessment score, will be qualified for several incentives that help them transform.

The ministry organized more than 13 workshops to introduce the program to the factories targeted in the first tranche. These workshops were attended by representatives of over 140 factories. The program divides factories into four tranches by capital, led by the first tranche with capital of more than SAR 500 million. The three stages will be announced gradually in the coming period.

The program, which was launched on July 20, 2022 aims to move 4,000 factories away from relying on low-skilled workers to automated manufacturing.