The Saudi Industrial Development Fund plays a pivotal role in the fulfillment of the objectives and policies of programs devised for industrial development in the Kingdom of Saudi Arabia. The Fund plays its role in partnership with a coherent group of government agencies directly related to industry. The financial support provided by SIDF in the form of medium and long term soft loans represents one of its major supportive functions in encouraging industrial development in the Kingdom. In addition, SIDF offers technical, administrative, financial and marketing consultancies, at the highest professional levels, to borrower projects which help overcome their obstacles and challenges.
SIDF effectively contributes to the realization of the objectives, policies and programs of industrial development via provision of the financial and advisory support required for growth, development and promotion of national industry. The role of SIDF in industrial development requires verification of the viability of borrower projects from the public and private economic perspectives. Besides, furthering the opportunities of success for such borrower projects by optimum employment of their invested funds. SIDF spares no effort to accomplish a number of strategic objectives in support of industrial development in the Kingdom. Among such objectives:
1-Achievement of a good return on industrial investment.
2-Insuring that the value added is appropriate for the national economy.
3-Replacement of imports by local products.
4-Promotion of non-oil industry related exports.
5-Realization of industrial integration among the different sectors.
6-Creation of job opportunities for Saudi nationals by encouraging employment of national manpower.
7-Exploitation of local raw materials, whenever possible.
8-Attraction of foreign capital as well as transfer and localization of technology.
9-Observance of industrial safety and loss prevention.
10-Protection of the natural environment.......Read More