The Ministry of Industry and Mineral Resources said that almost 8,967 factories, or 95% of total facilities, have benefited from the government's decision to pay foreign worker fees by the end of September 2020.
The remaining factories did not benefit from the initiative, due to some issues, such as service suspension or expired licenses, the Saudi Press Agency reported, citing a ministry statement.
The initiative has helped boost the Saudization, as well as the participation of the private industrial sector, the ministry stated, noting that the issuance of new industrial licenses since September 2020 amounted to 836, with 95% growth compared to the previous year. Investments of licensed factories saw a 116% jump.
Furthermore, the number of factories rose by more than 9% to 9,445 factories in September 2020, from 8,657 factories a year earlier, it noted.
The ministry also said that all jobs that were lost due to the fallout of the coronavirus pandemic were fully restored during the last three months, adding that the initiative created 240,000 direct jobs, including 81,000 actual and future jobs in factories that are under construction or those that began operation this year.
In September 2019, the Saudi Cabinet decided to cover the incremental cost of expatriates working in all licensed industrial facilities for five years starting from Oct. 1, Argaam reported.
Comments
{{DisplayName}}
{{ElapsedTime}}