Media ININ Economy We Trust
Media In / Riyadh 3 July
Saudi Industrial Fund has launched more than 40 initiatives in its new strategy to be the main financial fund to contribute to leading the industrial transformation in the Kingdom by providing integrated financial and advisory products and services to meet the needs of investors. The Director General of the Saudi Industrial Development Fund, Ibrahim bin Saad Al-Mujal, reviewed during the open meeting of industrialists in Jeddah Chamber yesterday, the project of developing the Fund’s strategy to achieve the objectives of the Kingdom’s Vision 2030, stressing the role of the Fund in advancing industrial development through financing projects, And management of various programs aimed at developing the industrial system to achieve sustainable development in the Kingdom. Al Mazel pointed out that the “Loan Efficiency Initiative” tops the Fund’s initiatives due to its shorter duration of approval and disbursement of loan applications, higher quality of evaluation and analysis, and the Small and Medium Enterprises Support Initiative to empower and support SMEs by facilitating their access to Financing, the “Consultancy Development” initiative to expand the scope of services provided by the Fund, as well as the “Development of a project classification mechanism” of a developmental nature, based on the study and analysis of project classification dimensions in terms of strategic alignment and economic impact. He added that one of the initiatives of the Saudi Industrial Fund is to “develop costing mechanism” based on transparency with customers by setting a higher limit for follow-up fees, taking into consideration the development goals and the initiative of “local and international strategic partnerships” to support and empower the Fund and the industrial system which resulted in A number of partnerships have been held with various entities in various fields, after examining and determining the scope of the promising partnerships of the Fund in terms of government agencies, financial institutions and development banks, in addition to the leading international organizations in various fields.
