MIM launches Investment Opportunities in Local Supply Chains’ Initiative

MIM launches Investment Opportunities in Local Supply Chains’ Initiative

Saudi Gazette report RIYADH — Ministry of Industry and Mineral Resources (MIM) launched the Investment Opportunities in Local Supply Chains' Initiative, specialized for small and medium enterprises (SMEs). MIM said that the initiative aims to study and analyze 10,000 locally manufactured and imported products, also to define criteria for identifying opportunities in the value chains associated with it. Moreover, it would help to build 100 detailed investment opportunities that include several sectors supportive for the Saudi National Industry Strategy. The initiative targets small and medium factories in the Kingdom. The initiative also aims in localizing the local supply chains, providing more than 600 investment opportunities for entrepreneurs, with an estimated investment of SR4 billion. Additionally, developing mechanisms for studying local supply chains, contributing in increasing the growth rate of industry and local content, solve the challenges that face the SMEs in supply chains, through providing them with the necessary support, offering the capabilities that help them and allow them to enter the supply chains. The targets of the initiative also include strengthening access to SMEs, in line with targeting increasing investment opportunities in the industrial sector in Saudi Arabia. MIM said that it is targeting to sign 100 agreements with