CEO Message
Sultan bin Khalid Al saud
Since its inception in 1974, SIDF has played a pioneering role in developing, implementing and achieving industrial development policies and programs, which are engineered to allow SIDF to be the main financial enabler to transform the Kingdom into an industrial powerhouse and a global logistics hub. The net value of SIDF’s approved loans since its establishment to the end of 2023 reached more than SAR 180 billion, dedicated for 4000 projects, with nearly SAR 700 billion investments.
Over the past five decades, the Saudi industrial Gross Domestic Product (GDP) increased 25-fold to SAR 246 billion (at fixed prices and excluding inflation). The total funds approved and granted by SIDF since the launch of Saudi Vision 2030 to the end of 2023 surpassed the total amount approved and disbursed during the first 36 years of its life.
134
loans The number of approved loans
2064
trainees At SIDF Academy programs
12.9
SAR billion The value of approved loans
Over the past five decades, the Saudi industrial Gross Domestic Product (GDP) increased 25-fold to SAR 246 billion (at fixed prices and excluding inflation). The total funds approved and granted by SIDF since the launch of Saudi Vision 2030 to the end of 2023 surpassed the total amount approved and disbursed during the first 36 years of its life.
During the fiscal year 2023, SIDF approved 134 loans amounting to SAR 12.9 billion, to finance several projects in industry, energy, mining and logistics, at an investment value surpassing SAR 51 billion.
In the meantime, SIDF continues its support to diversifying development by implementing ambitious plans and establishing internal operations mechanisms. SIDF launched several new services, products, and programs in 2023. The new “WAIE” System helped improve digitalization and automation of internal operations concerning corporate risks by 80%. In addition, a comprehensive monitoring system for IT services was launched for better communication with customers.
In 2023, SIDF Academy successfully trained 2,064 individuals through 68 training programs. Prestigious education institutions supervised the training programs, including Stanford Center for Professional Development (SCPD), Fitch Learning, and King Abdullah University of Science and Technology (KAUST). Additionally, the Academy’s Nokhab Program served 45 trainees; eight of them have industry backgrounds. SIDF Academy succeeded in receiving the General License for E-Learning from the National ELearning Center.
In conclusion, the remarkable progress and accomplishments of SIDF would not have been possible without the invaluable support of our wise leaders. I would like to express my sincere gratitude and appreciation to King Salman bin Abdulaziz, the Custodian of the Two Holy Mosques, and Crown Prince Mohammed bin Salman – may Allah protect them both. Their unwavering support has been instrumental in realizing the objectives of Vision 2030 and elevating our beloved country among the leading industrial nations. I would also like to extend my thanks to the Chairman, members of the Board of Directors, and my esteemed colleagues at the Saudi Industrial Development Fund for their dedicated and tireless efforts in this regard.