Minister of Industry Launches 4th Edition of 1K Mile Program and Honors Winners

Minister of Industry and Mineral Resources and Chairman of the National Industrial Development and Logistics Program (NIDLP) Bandar Alkhorayef launched the fourth edition of the 1K Mile Program during the closing ceremony of the third edition, held on Saturday at "The Garage" headquarters in Riyadh.

 The ceremony was attended by Minister of Transport and Logistic Services and Vice Chairman of the Program Committee Saleh Al-Jasser, Minister of Communications and Information Technology Abdullah Alswaha, Minister of Education Yousef Al-Benyan, along with a group of entrepreneurs, representatives of supporting entities, and families of the participants.

 In his speech, Alkhorayef stated that the 1K Mile Program has evolved from an initiative to support entrepreneurs into one of the main pillars of the industrial and entrepreneurial transformation the Kingdom is witnessing. He noted that the launch of the fourth edition reflects the cumulative successes of previous editions and the inspiring success stories they produced.

 He said the program has empowered entrepreneurs by helping them develop realistic and sustainable business plans, while providing a nurturing environment that supports them throughout the various stages of their projects. This, he added, ensures their growth, expansion, and readiness to compete. Alkhorayef emphasized that the program has redefined the concept of industrial investment, demonstrating that industry is no longer limited to large enterprises but is also open to ambitious and innovative young people. He further highlighted its role in promoting advanced manufacturing and encouraging investment in modern technologies.

 The third edition saw 8,001 entrepreneurs register, with 147 projects nominated for their alignment with Saudi Vision 2030 goals. The Saudi Investment Bank, the official sponsor of the ceremony, presented financial awards to the winners of this edition, honoring 20 pioneering projects in the industrial, mining, and logistics sectors. The first-place winners received SAR500,000, while the second-place winners in each sector received SAR250,000.

 Winners of the program receive an official document, which offers unique benefits, including financing, industrial land, ready-made factories, and consulting services, designed to enhance the sustainability and expansion of their projects. This NIDLP initiative aims to empower Saudi youth to capitalize on the opportunities created by the Kingdom's economic and industrial transformation.