Industry Ministry: Issuing Licenses for 102 New Factories with Investments Exceeding SAR15 Billion

Riyadh, The Ministry of Industry and Mineral Resources revealed, through the Industrial Indicators Report, that 102 new industrial licenses were issued in last March, 2021, with a capital of SAR15.23 billion, with an annual growth rate of 55% compared to the same month of 2020.

Issued by the National Center for Industrial Information, the report also indicated that nearly 39 factories began production last month, with a growth rate of 26% compared to the previous month, while the volume of investment in new factories that started production witnessed a growth of 681%, compared to the previous month.

The report pointed out that the industrial sector witnessed, during the same month, the entry of approximately 2,146 Saudi workers, as the number of expatriate workers entering the sector reached nearly 826 workers, and the sector also witnessed an increase in the number of industrial establishments existing so far, reaching 958.9 establishments, with an investment volume estimated at SAR1,123 trillion.

It emphasized that 90% of the total factories that started production were of national investment.

Source: Saudi Press Agency