Riyadh – Mubasher: Fahad Alnaeem, the CEO of the Saudi Industrial Development Fund (SIDF) Investment Company, told Mubasher.info that there are currently 12,000 factories in Saudi Arabia while the goal is to reach 36,000 factories.
Without active players in the market like Aajil startup, it would be difficult to reach this target, Alnaeem told Mubasher.info on the sidelines of Biban Forum 2025.
The CEO’s comment was in line with the collaboration with Aajil, which is considered the first investment SIDF makes in a startup.
Alnaeem added that what distinguishes Aajil is being an investment enabler, not just an investment company. It is one of the first digital platforms that provides certain payment services for small and medium-sized factories in Saudi Arabia when purchasing raw materials. This is very important because the health of small and medium-sized industrial establishments lies in the health of their working capital.
He noted that the startup offers financing solutions, especially for urgent capital, with a speed of up to 24 hours from application to obtaining the funding. Alnaeem stated that this is very necessary for investors and important for the entire industrial system to have many options with flexible terms, putting the power in the hands of manufacturers and not just in the hands of financiers.
The CEO told Mubasher.info, which joined in Biban as a Media Partner, that the goal of establishing SIDF company is to increase investment operations in the industrial sector, not only in terms of capital but also with targeting the debt category. He added that the company was established in late 2023 and began its business in mid-2024.
The company further considers all industrial sectors, which are 12 segments concerned with Saudi Arabia’s National Industrial Strategy, in addition to taking in consideration four other possible sectors; energy, supply chains, logistics services, and mining.
It is worth noting that the four-day event concluded in Riyadh on 8 November 2025 with more than SAR 38 billion worth of agreements.
