Riyadh – Mubasher: Saudi Arabia has allocated around SAR 27 billion to implement the initiatives and projects of the kingdom’s National Industrial Development and Logistics Programme (NIDLP), the head of NIDLP said.

The implementation of the programme’s projects had been already started five months ago, in addition to financing some investments at SAR 11 billion by the end of 2018, Al Eqtisadiah newspaper reported, citing Abed Al-Sadoon as saying.

The official further noted that the NIDLP aims to raise the private sector’s contribution to the economy.

The NIDLP investments will be injected into the pharmaceuticals, chemicals, cars industry, and military sectors.

Al-Sadoon noted that the GCC nation is currently in talks with three or four global firms operating in vehicles industry to establish plants in Saudi Arabia.

The NIDLP, which is one of the 12 programs initiated as part of Saudi Vision 2030, aims to inject around SAR 2.2 trillion in the oil-rich kingdom’s gross domestic product (GDP), provide 1.6 million job opportunities, and attract SAR 1.6 trillion in investments by 2030.

In January, the Saudi energy minister Khalid Al-Falih stated that the Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud would launch a SAR 200 billion NIDLP.

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