Saudi industrial activity witnesses remarkable rise
Saudi’s Ministry of Industry and Mineral Resources (MIMR) announced that 261 industrial facilities started their operations in Saudi in March, with an investment volume of more than 5.8 billion riyals ($1.5 billion).
MIMR said that the number of producing factories and the under-construction factories in Saudi exceeded 10,000 factories during Q1 of 2022.
According to the data, the producing factories and the under-construction factories in Saudi amounted to 10,489 factories until the end of Q1 of 2022 with a capital estimated at more than 1.3 trillion riyals.
The largest percentage of the number of factories in Saudi is led by the factories that are working in the manufacture of non-ferrous metal products, followed by factories for rubber and plastic products, then the formed metal products factories.
The findings indicated that the national factories topped the list of producing and under-construction factories by type of investment with a percentage of 85 percent, followed by foreign factories with 8 percent, then joint investment factories with 7 percent.
The small enterprises represent the largest percentage of the total factories in Saudi until the end of the first quarter of 2022, the bulletin indicated, noting that it amounted to about 5,273 thousand facilities, followed by medium enterprises with about 4,386 thousand facilities, then large enterprises, which recorded 830 of the total factories produced and the under-construction factories.
Riyadh tops other regions in the number of factories
According to the Saudi regions in terms of the number of factories, the Riyadh region occupied the largest proportion of the total number of producing factories and the under-construction factories with more than 5,173 thousand factories, followed by the Eastern Province with about 2,291 thousand factories, and then the Makkah region with about 1,783 thousand factories.
MIMR’s announcement came after it issued 260 new industrial licenses.
Industrial investments amounted to 5,529 billion riyals during the end of Q1 of 2022, while the production began in 498 factories with investments estimated at 16 billion riyals.