Saudi Industry Ministry Issues 48 Licenses in July with SAR 50 billion of Investments

The Saudi Ministry of Industry and Mineral Resources has announced issuing new 48 industrial licenses in July with more than SAR 50 billion of investments.

According to the ministry, factories of foodstuff and non-metallic minerals topped the list of new factories with seven each.

Also in July, 78 factories started production with an annual growth rate of some 144% compared with the same month of 2020 according to the Saudi Industry Ministry.

Furthermore, a report issued by the Saudi Industry Ministry’s National Industrial Information Center showed that the industrial sector in the Kingdom of Saudi Arabia attracted investments with a volume of more than 50 billion riyals. This marks the highest rate registered by the investment volume in the industrial sector in terms of the licensed capital during one month, while the sector succeeded in providing 2,931 jobs, including 1,101 jobs for Saudis and 1,830 jobs for non-Saudis.

The report revealed that the total number of existing industrial facilities in the Kingdom of Saudi Arabia by the end of July stood at 10,166 factories, where non-metallic minerals factories accounted for the highest share with more than 2,000 factories, and the total investment volume for all factories exceeded 1.331 trillion riyals.

Earlier, Minister of Industry and Mineral Resources Bandar Al-Khorayef revealed that Saudi non-oil products had reached 178 countries worldwide. 

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