SIDF News

"The Saudi Industrial Development Fund (SIDF) signed today a Memorandum of Understanding (MoU) with the Saudi Ports Authority (Mawani) to enhance the cooperation and alignment between the two entities, and to boost the industrial and economic development in Saudi Arabia.

SIDF's CEO, H.H Prince Sultan bin Khalid Al Saud, and Mawani's President, Mr. Omar bin Talal Hariri signed the MoU.

The MoU will contribute towards empowering the logistics sector, supporting port operators, and funding them by SIDF in order to attract more investments, and develop services and logistics zones, which will further accelerate the efforts of establishing logistics centers, and improve the investment environment, as well as the industrial and commercial movement in the Kingdom. All that has been previously mentioned will help achieve the objectives of the National Industrial Strategy (NIS) and the National Transport and Logistics Strategy (NTLS) to transform the Kingdom into a leading industrial powerhouse and a global logistics hub.

The signing of the MoU comes as a continuation of SIDF's efforts to enhance investment attractiveness and to facilitate the procedures for the growth of its clients' projects, and to motivate investors to launch new projects. In addition to provide the necessary support to SIDF's clients through qualitative partnerships with various entities in both public and private sectors."