Industry Ministry Introduces 15 Enablers, Incentives under Saudi Authorized Economic Operator Program

The Ministry of Industry and Mineral Resources has introduced 15 enablers and incentives for member enterprises under the Saudi Authorized Economic Operator Program to enhance the competitiveness of Saudi exports, improve global market access, and strengthen the Kingdom's position as a global logistics hub.
 Entities in the industry and mineral resources system offer various benefits, including administrative incentives such as appointing a liaison officer and an account manager for participating companies. This support aims to ease the investment process and address any challenges that may arise. In addition, the allocation of industrial land is available for a duration of up to 30 years, along with the opportunity to obtain a "Built-to-Suit Model" product.
 The entities within the system also offer procedural advantages to investors, granting them priority in completing the procedures and acquiring land products and ready-made factories, as well as access to incentives provided by the Saudi Export Development Authority.
 Financial benefits are available through the Saudi Industrial Development Fund, such as financing programs covering up to 75% of project value, extended repayment terms of up to 20 years, and a grace period of up to 36 months. Additionally, participants are eligible for the fund's advisory services and its academic programs.
 The Saudi Authorized Economic Operator Program enhances customs and logistics services, facilitates trade exchange, reduces commercial operation times, improves supply chain efficiency, and supports the competitiveness of national exports, all in accordance with best international standards and practices.
 The program establishes large national companies as global leaders, attracts local and foreign investments to Saudi Arabia, boosts the contribution of small and medium enterprises to the national economy, and supports the growth of promising local companies into regional and international leaders.
 The Saudi Authorized Economic Operator Program, launched by the Zakat, Tax and Customs Authority (ZATCA), is globally recognized and approved in 80 countries. This initiative allows countries to offer benefits to commercial establishments, aligning with the international trade security and facilitation standards set by the World Customs Organization.
 The ZATCA has announced the expansion of the program's scope to establish it as a national initiative. This program involves collaboration among 15 government entities to foster partnerships among government institutions and commercial enterprises, improving the supply chain and providing local enterprises with unique benefits.
 Institutions interested in joining the program and learning about its benefits can find detailed information on the advantages and conditions by visiting the dedicated page on ZATCA's website.