As many as 11 Decisions, Recommendations Taken, to Address Challenges facing Investors

Within two and a half years, the Industrial Council issued 11 various decisions and recommendations to address challenges facing industrial investors, in particular,  in the Kingdom, improving, thus, the investment environment, in the industrial sector.

The council is headed by the Minister of Industry and Mineral Resources Bandar Al-Khorayef, and includes representatives of an array of government agencies as well as the private sector.

The aim is to follow up on developments in the sector, and to overcome the challenges facing investors.

Those recommendations, included approving the creation of export houses, to work with exporting companies, and taking immediate measures to ensure a fair competitive environment for producers, according to a report reviewed by the council.

Activating the steering committee to protect local products from unfair competition, in addition to to discuss rescheduling banks’ loans to industrialists and coming up with supportive mechanisms, as well as recommending exempting industrial companies from, to expatriate workers’ financial charges, for a period of 5 years.

The Industrial Council discussed the possibility of offering a working capital support for factories, and plants benefiting from production, in construction phase, from the Industrial Development Fund.