According to a report issued by Saudi’s National Center for Industrial and Mining Information, the Saudi Ministry of Industry and Mineral Resources (MIM) granted in April 2023 a total of 53 new industrial licenses. These licenses were distributed among 7 industrial activities, with the highest number of licenses (9) issued for food processing. The manufacturing of formed metal products and other non-metallic mineral products followed closely with 8 licenses each.
Read more: Saudi issues 30 new industrial licenses worth SAR 973 mn in July
Four licenses each were issued for activities related to the manufacture of basic metals, paper and paper products, rubber and plastics products, and water collection, treatment, and supply.
According to the report, the Ministry issued a total of 385 industrial licenses from the beginning of 2023 until the end of April. Moreover, the number of existing and under-construction factories in Saudi Arabia had reached 10,873 by the end of the same month, with an investment value of 1.440 trillion Saudi riyals (SAR).
Regarding the investment value of the newly licensed ventures in April, the report indicated that it was valued at SAR5.8 billion. Small enterprises received the majority of new licenses, accounting for 94.34 percent, while medium enterprises received 5.66 percent.
National factories accounted for the largest percentage of total licenses based on the type of investment, with 66.04 percent. Foreign enterprises followed with 11.32 percent, while joint investment enterprises made up 22.64 percent.
According to the report, 24 factories began production in April, with a total investment value of SAR155 million. Of these factories, four were for rubber and plastic units, while two each were dedicated to the manufacture of paper, non-metallic minerals, wood, and formed metals.
In April, national factories accounted for the highest percentage of factories that commenced production, at 85.71%. Joint investment factories and foreign factories made up 7.14 percent each.
For more news on industry, click here.
