Organisations and support
The Ministry of Energy, Industry and Mineral Resources is developing downstream projects in the Kingdom of Saudi Arabia's (KSA) plastics and packaging sector, particularly through the Industrial Clusters program (IC).
Industrial Clusters support to the plastics and packaging sector investors includes:
- Carrying out market research and providing market data
- Identifying the best possible locations, sites, suppliers and staff
- Evaluating business model options such as foreign direct investment, joint venture and licensed operations
- Arranging meetings with Saudi Arabian investors
- Assessing eligibility for incentives
- Assisting with applications
In Saudi Arabia, foreign companies enjoy all the benefits, guarantees and incentives offered to Saudi-owned companies.
Any equipment required for a project that cannot be sourced from KSA, such as some manufacturing machinery, is exempt from import duties.
Exporters from Saudi Arabia will benefit from unlimited, tariff-free access to Gulf Cooperation Council and from Greater Arab Free Trade Area markets, comprising a total of 13 other countries.
Industrial Clusters can advise on accessing finance such as Public Investment Fund loans, Saudi Industrial Development Fund loans and private venture capital.
Other Investment incentives and support includes the Human Resources Development Fund, which provides financial support for training and employment, and innovation grants.
Once a project is operational, capital, dividends and profits can be repatriated without restriction.