Tawteen Program

Tawteen Program is one of the government funding programs announced by the Saudi Industrial Development Fund (SIDF) in 2019 under Saudi Vision 2030’s National Industrial Development and Logistics Program. Tawteen aims at encouraging domestic and foreign investments in the Kingdom of Saudi Arabia to increase local content in Saudi industries, in partnership with the Kingdom’s leading corporations.

The program signed its first funding agreement in 2019 with Saudi Aramco's IKTVA program. Subsequently, partnership agreements were inked with SABIC through Nusaned Initiative, as well as Ma'aden through the local content development initiative, Saudi Telecom through Rawafed Initiative, and the Saudi Electricity Company through Bena Program.

Tawteen aims to achieve several objectives, including: achieving the Saudi Industrial Development Fund's goal to become the main financial and funding driver of the Kingdom's manufacturing sector, in addition to highlighting localization opportunities, supporting and promoting increased spending on local content, stimulating investment activities, and supporting the national and local content strategy.

The program develops new products and services to facilitate, promote, and finance supply chain localization opportunities by partnering with leading Saudi companies to replace imported products and spare parts with locally manufactured products in order to localize the supply chain of major companies.

Tawteen Program stimulates investment activities and supports the national and local content strategy through preferential financing solutions offered by the SIDF. The program provided a suite of financing loans worth SAR818 million, according to the SIDF’s 2021 annual report.

Applying for the program involves several stages. First, applicants need to register by applying for a regular loan to qualify for the program. Second, a preliminary study is conducted to determine the project’s eligibility to join Tawteen based on the information provided. Finally, an assessment of the project's feasibility follows, before the contract is signed and officially registered.

Tawteen also offers a set of benefits to investors, including an extended repayment period of up to seven years, a repayment grace period of up to twenty-four months, a fast track for projects with purchase agreements, and a linking service with procurement departments within major companies.