The Ministry of Petroleum & Minerals and Ministry of Commerce & Industry are developing downstream projects in the Kingdom of Saudi Arabia's (KSA) plastics and packaging sector, particularly through the Industrial Clusters program (IC).
Industrial Clusters support to the plastics and packaging sector investors includes:
In Saudi Arabia, foreign companies enjoy all the benefits, guarantees and incentives offered to Saudi-owned companies.
Any equipment required for a project that cannot be sourced from KSA, such as some manufacturing machinery, is exempt from import duties.
Exporters from Saudi Arabia will benefit from unlimited, tariff-free access to Gulf Cooperation Council and from Greater Arab Free Trade Area markets, comprising a total of 13 other countries.
Industrial Clusters can advise on accessing finance such as
Public Investment Fund loans, Saudi Industrial Development Fund
loans and private venture capital.
Other Investment
incentives and support includes the Human Resources
Development Fund, which provides financial support for training and
employment, and innovation grants.
Once a project is operational, capital, dividends and profits can be repatriated without restriction.
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