Industrial Center issues 11 recommendations to improve industrial investment environment

Riyadh city

Saudi Arabia's Industrial Center issued 11 recommendations over two and a half years to address the challenges facing industrial investors in the Kingdom, Saudi Press Agency reported.

The move aims to improve the investment environment in the industrial sector.

The recommendations include establishing export houses to work with export companies, taking immediate measures to ensure a fair competitive environment for local producers, as well as activating the role of the steering committee to protect local products from unfair competition.

The center also discussed rescheduling loans by banks for manufacturers and coming up with supportive mechanisms, in addition to exempting industrial companies from fees levied on expatriate workers for five years.

Further, the center looked into the possibility of supporting working capital for factories, so such factories can benefit from this product.

The recommendations also include activating the communication channels between manufacturers, the ministry, and relevant government entities, through a call center to respond to the manufacturers' inquiries about the decisions, circulars and developments related to the industrial sector.