national industry

Thanks to the milk localization strategy

Investment Magazine/Exclusive

The national strategy to localize milk and dairy has achieved positive results since its adoption on August 16, 2023, after the government's decision was issued in July

2023, which led to the revival of the milk and yogurt industry in large quantities produced by 3 national factories, with the allocation of 130 riyals as a subsidy from the government, which is deducted from the sales tax to the factories according to a specific mechanism.

Opportunities

Investment Magazine / Exclusive

In a move aimed at enhancing the local investment climate and expanding the scope of national industries, the Ministry of Economy, Industry and Investment— in collaboration with the Tax Authority, Customs Authority, and the Chamber of Commerce and Industry in the Capital Secretariat—has approved the acceleration and simplification of procedures for local garment manufacturers to obtain exemptions granted under the Presidential Decree on textile sector incentives and privileges.