Annual Report 2022
SIDF Capital Growth
SIDF Overview
The Saudi Industrial Development Fund (SIDF) was established in 1974 with an initial capital of SAR 500 million, aiming at providing financial support to the industrial sector in Saudi Arabia. Over the span of 48 years, SIDF gradually increased its capital to SAR 105 billion by 2019. Throughout its existence, SIDF has adapted its support to evolving needs of the industrial sector, by encouraging investment opportunities, promoting local industry development, enhancing performance, fostering competition, and backing strategic initiatives. Moreover, SIDF has expanded its support to include promising sectors such as industry, energy, mining, and logistics, playing a vital role in the industrial transformation of Saudi Arabia. In 2021, SIDF successfully relocated to its new headquarters in the King Abdullah Financial District (KAFD) in Riyadh, symbolizing a new chapter focused on bolstering confidence in the development and growth of the national economy.
SIDF efficiently operates to deliver both financial and advisory assistance, as well as inventive solutions, to foster the growth and advancement of the local industry and improve its overall performance. This is done with the aim of accomplishing the following strategic objectives:
Enhancing effectiveness and productivity of enterprises while promoting sustainability, aiming to improve their efficiency and performance.
Supporting local products
Enhancing non-oil exports.
Establishing seamless integration between the industrial sector and other sectors towards a cohesive and interconnected system.
Maximizing involvement of skilled Saudi individuals in the industrial sector, actively promoting their participation and contribution.
Efficiently utilizing indigenous raw materials to their fullest potential.
Catalyzing FDI and transferring and localizing technology
Promoting the culture of industrial safety and prevention against risks in industrial facilities
Promoting environmental awareness in the industrial sector
Vision
Industrial development fund enabling Saudi Arabia’s transformation to become an industrial powerhouse and a global logistics hub.
Mission
Enhance ecosystem competitiveness and investments attractiveness by providing financial and non-financial offerings.
Values
Customer Success
Empowerment
Cooperation
Development
Reliability
Board of Directors
Functions of SIDF Board of Directors, comprising a chairperson and five members, encompass a variety of responsibilities, including:
- Setting SIDF’s general policies.
- Approving strategies, plans, and programs before implementation phase.
- Overseeing administrative, financial, and technical regulations and procedures.
- Approving lending and financing activities, as well as authorizing the ownership, sale, and mortgage of property, in addition to overseeing finalization of agreements and contracts, ensuring adherence to relevant legal procedures.
- Performing various additional functions and duties to consistently achieve the goals and objectives of SIDF, ensuring they are fulfilled in a systematic manner.
Board Members
H.E. Mr. Bandar bin Ibrahim Alkhorayef
Minister of Industry and Mineral Resources
Chairman of the Board of Directors
H.E. Eng. Saleh bin Nasser Al-Jasser
Minister of Transport and Logistic Services
Member
H.E. Dr. Ghassan bin Abdulrahman Al-Shibl
Advisor to the General Secretariat of the Council of Ministers
Member
Dr. Stephen Groff
Governor of the National Development Fund
Member
Dr. Abdullah bin Abdulrahman Alnamlah
Minister of Finance Advisor
Member
Eng. Ayman bin Ishaq Afghani
Deputy Minister of Economy and Planning for Labour Affairs and Human Capital Development
Member
Organizational Structure
Was this page useful?