Ministry of Industry Issues 174 New Industrial Licenses
The Ministry of Industry and Mineral Resources issued 174 new industrial licenses during the month of September 2023, distributed among 5 industrial activities.
The activities included manufacturing formed metal products with 26 licences, followed by manufacturing non-metallic minerals products with 24 licences, then manufacturing of food products with 22 licences, and manufacturing of food products with 26 licences. Rubber and plastics products got 17 licenses, and the paper and paper products industry got 13 licenses.
According to the report issued by the National Center for Industrial and Mining Information of the Ministry of Industry and Mineral Resources, the total number of industrial licenses issued by the Ministry from the beginning of this year until the end of September reached 969 licenses. The number of existing factories in the Kingdom until the end of the same month reached 11,273 factories, with an investment volume of 1.498 trillion riyals.
According to the report, the volume of investments in new industrial licenses issued by the Ministry during the month of September amounted to 5.3 billion riyals.
Small enterprise investments accounted for the majority by 88.51%, followed by medium enterprises by 10.92%, then micro-enterprises by 0.57%, and national factories recorded the largest percentage.
Of the total licenses issued by type of investment, 76.44% were issued, followed by foreign establishments 12.07%, and joint investment establishments 11.49%.
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