Riyadh: Vice Minister of Industry and Mineral Resources for Industrial Affairs, Eng. Khalil bin Ibrahim bin Salamah, has launched the ‘Innovative Factories Promotions’ initiative aimed at bolstering research and innovation within the industrial sector. This initiative seeks to foster the development of new industrial products, thereby enhancing the global competitiveness of Saudi Arabia’s industry.

According to Saudi Press Agency, the initiative was unveiled during the inauguration ceremony of the Advanced Manufacturing and Production Center held on Wednesday in Riyadh. The initiative is designed to empower various groups including national factories, inventors, and entrepreneurs. It supports joint research projects between national factories and research, development, and innovation centers, as well as research projects within these centers that have industrial applications.

The ‘Innovative Factories Promotions’ initiative offers financial grants of up to SAR2 million to support research, development, and innovation projects in the industrial sector. The ministry has invited interested parties to learn more about the initiative and apply through its official website: https://mim.gov.sa/ar/issi/32142/