Saudi Arabia launches 2nd phase of standard industrial sector incentives

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The Ministry of Industry and Mineral Resources, in cooperation with the Ministry of Investment, began accepting applications for the second phase of standard industrial sector incentives.

The program offers coverage of up to 35% of a project’s initial investment value, capped at SAR 50 million per qualified project. Funding will be split equally between the construction and production phases, providing sustainable support for financial and operational performance for up to seven years.

Applications will remain open until mid-November, the ministries said. They called upon local and international investors to explore the available investment opportunities, review the investor’s guide, and submit applications via the “Senaei” platform before the deadline.

According to data available with Argaam, the Ministry of Industry and Mineral Resources launched the standard incentives program in January, in collaboration with the Ministry of Investment, across several phases.

The first phase, launched in January 2025, targeted investments in chemical manufacturing, automotive and auto parts, as well as machinery and equipment sectors.

In June, the ministries rolled out the second phase of the program, expanding its scope to include additional strategic industries such as aviation, building materials, medical devices, pharmaceuticals, food processing, marine industries, and mining.