RIYADH: Saudi Arabia’s automotive companies will soon be able to expand their reach to global markets with the support from various initiatives taken by the local authorities, said a top government official.
Speaking at the Auto Connect Forum in King Abdullah Economic City, National Industrial Development Center CEO Khalil Ibn Salamah said the Saudi Export Development Authority is working on plans to export Saudi-manufactured cars.
This move aligns with the Kingdom’s policy of developing new industries that attract international investments and create jobs for local talent while empowering the private sector.
He said the government is taking measures to help the local auto sector cater to the domestic demand but also to export their products to the regional and global markets.
Speaking about the forum, Saleh Al-Khabti, deputy minister of investment transactions, said it opened the door for several opportunities within the sector.
“Auto Connect Forum is not merely an event. It’s a platform that exemplifies the spirit of collaboration and partnership. Today, we gather to discuss the investment opportunities that foster collaboration,” Al-Khabti clarified.
During the event — touted as the first of its kind — the Economic Cities and Special Zones Authorities showcased how special economic zones accelerated the adoption of electric vehicles by providing a supportive environment and implementing advantageous policies.
The two-day exhibition will include many workshops and the organization of an accompanying conference that includes dialogue sessions on the future of the industry and promising opportunities in manufacturing automotive components.
Moreover, the conference, expected to attract more than 300 foreign and local companies in multiple sectors, seeks to back the goals of the Kingdom’s Vision 2030, aiming to establish an advanced industrial base and further propelling the automobile sector.
Saudi authorities to support local automotive firms expand globally
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Saudi authorities to support local automotive firms expand globally
Saudi Arabia opens 3rd round of Exploration Empowerment Program
RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has opened applications for the third round of the Exploration Empowerment Program, part of ongoing efforts to accelerate mineral exploration in the Kingdom, reduce early-stage investment risks, and attract high-quality investment from local and international mining companies.
The third round of the Exploration Empowerment Program offers a comprehensive support package targeting exploration companies and mineral prospecting license holders.
The initiative aims to lower investment risks for projects and support a faster transition from prospecting to development.
"The program provides coverage of up to 70 percent of the total salaries of Saudi technical staff, such as geologists, during the first two years, increasing to 100 percent thereafter, in line with program requirements.
This support aims to develop talent, build national capabilities in mineral exploration, promote job localization, and facilitate the transfer of geological knowledge.
The application for the third round opened on Jan. 14, allowing participants to benefit from the Kingdom’s attractive investment environment, its stable legal framework, and streamlined regulatory structures, as well as integrated infrastructure that supports the transition from mineral resources to operational mines.
The ministry has set the timeline for the third round, with the application period running from Jan. 14 to March 31.
This will be followed by the evaluation, approval, and signing of agreements from April 1 to May 31, with the eligible projects set to be announced between June 1 and July 31 of the same year.
The program stages include submitting exploration data during the reimbursement and payment phase from Sept. 1 to Nov. 30, followed by technical and financial verification of work programs and approval of the disbursement of support funds in January 2027.
The exploration data will then be published on the National Geological Database in April 2027.
The ministry emphasized that the EEP focuses on supporting the exploration of strategically important minerals with national priority. It also contributes to enhancing geological knowledge by providing up-to-date data that meets international standards, helping investors make informed decisions and supporting the growth of national companies and local supply chains.
The ministry urged companies to apply early to benefit from the program’s third round, which coincided with the fifth edition of the International Mining Conference, which was held from Jan. 13 to 15.
