Industrial Clusters program support
The Kingdom of Saudi Arabia Government has established the Industrial Clusters program to develop some potential industries which are the Minerals and Metal processing, Automotive, Solar Energy, Plastics and Packaging and recently, Pharmaceutical industry has been added to this list.
An important element of the Industrial Clusters strategy is using Saudi Arabia abundant mineral and petrochemical resources, plentiful energy and other advantages to pursue highly focused development.
The Industrial Clusters program's aims are to:
- Build the knowledge and competitive intelligence base to create feasible, executable and consistent Industrial Cluster and Cluster Enabling strategies, while anticipating global market trends, opportunities and threats.
- Turn investment opportunities into businesses by developing competitive anchor projects for each cluster.
- Shape and introduce policies to enable the clusters to have the right conditions and factors required to attract and retain investors.
- Create an enabling and collaborative environment among different public and private institutions, resulting in a coordinated strategic dialogue to align efforts, resources and visions to implement new industries and businesses.
- Support foreign and local investors in compiling sound business cases.
Industrial Clusters Program assistance to investors includes:
- Providing free advice on setting up a business in Saudi Arabia.
- Supplying statistics on the economy, oil and minerals, trade and industry, tourism, water and electricity, communications, transport, education, population and the workforce.
- Carrying out joint market research on and for target cluster.
- Jointly compiling a project business case.
- Making the necessary introductions to relevant government agencies and companies.
- Helping to identify the best possible locations, sites, suppliers and staff.
Industrial Clusters Program can also facilitate applications to organisations such as the Saudi Arabian General Investment Authority (SAGIA), Ministry of Commerce & Industry (MCI), Saudi Industrial Development Fund (SIDF), Public Investment Fund (PIF), Saudi Industrial Property Authority (Modon), Royal Commission for Jubail and Yanbu (RCJY) and Human Resources Development Fund (HRDF).