Saudi Arabia Issued 90 Industrial Licenses In June

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Saudi Ministry of Industry & Mineral Resources had issued 90 new industrial licenses in June which covered five industrial activities.

Riyadh: The Ministry of Industry and Mineral Resources had issued 90 new industrial licenses in June. These licenses covered five industrial activities.

Non-metallic minerals industry came on top of the list with 18 licenses. Relatively, food manufacturing and metal products industries came second and third with 14 and 12 licenses, respectively.

Nine licenses were issued for the manufacture of plastic and rubber products. In contrast, seven were handed out for the manufacture of chemical products.

The Ministry’s National Center for Industrial and Mining Information released a report. The report stated the total number of industrial licenses issued by the Ministry since the beginning of this year is 501.

It mentioned the number of under-construction and existing factories in the Kingdom at the end of the same month was 10,675

Also, these factories’ total volume of investments is worth 1.361 trillion riyals. Non-metallic metal factories account for more than 2,054 plants, food factories account for approximately 1,280 plants, and rubber and plastics factories account for 1,348.

The report suggests that the volume of investments in June exceeded 2 billion riyals. Small businesses acquire the vast majority of new industrial licenses (83.33%) during the period.

The two largest groups were those with foreign investment (6.67%) and co-investment (5.56%). They were followed by medium-sized enterprises (14.44%) and micro-sized businesses (2.22%).

National factories accounted for new licenses based on the type of investment at 87.78%, followed by foreign investments at 6.67% and joint-venture assets at 5.56%.

The National Center for Industrial and Mining Information reports that 101 factories began operations in June.

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These operations started with an investment of 2.6 billion riyals. Non-metallic metal factories lead the way with 21 factories, followed by food factories at 17.

The rubber and plastics factories accounted for 14. They were followed by chemical factories at 12 and fabricated metal factories at 10.

In addition, national factories made up approximately 93.07% of all factories that began operations in June.

Foreign factories came in second place with 3.96%, and co-investment factories came in third place with 2.97%.

The report pointed out that the new industrial licenses were distributed among 11 administrative regions. The Riyadh region leads the way with 32 licenses, followed by the Eastern Province with 26 licenses and the Makkah region with 14.

With 26 factories, the Riyadh region had the most factories starting production. The Eastern Province followed the Riyadh region with 24 factories and the Qassim region with 14.

According to the National Center for Industrial and Mining Information, the industry sector added 5,706 jobs in June, with 3,245 going to Saudi nationals and 2,461 going to foreigners.

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Through the National Center, the Ministry of Industry and Mineral Resources publishes the most significant industrial indicators every month.

That show the type of industrial activity that takes place in the Kingdom, the degree to which new industrial investments have changed, and the number of jobs that are generated by the sector. — SG

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