The move aligns with directives from the political leadership to support strategic industries and deepen local manufacturing.
The incentives offer exceptional facilitations for investors
in this activity, including:
Competitive prices and priority in the allocation of industrial
land for new projects,
Flexible payment terms tied to adherence to the
implementation schedule,
Concessional loans to finance working capital and production
lines,
Operating license issuance within 24 hours by the General
Authority for Industrial Development, upon completion of all conditions and
documentation,
Immediate provision of all basic utilities including
electricity, water, gas, roads, and telecommunications, and
Priority for local steel factories in supplying the needs of
national megaprojects.
Steel products are widely used across a range of strategic
industries, most notably home appliances (refrigerators, washers, ovens, air
conditioners), the automotive and transport sectors (car bodies, buses,
trucks), metal furniture, medical industries (equipment, medical
refrigerators), agricultural equipment (tractors, greenhouses), metal
packaging, and metal construction.
The new incentives are part of the state's vision to build a strong industrial base capable of regional and international competition, and to localize key upstream industries that form the foundation of major strategic sectors.