Logo of Ministry of Industry and Mineral Resources
The Ministry of Industry and Mineral Resources issued 118 new industrial licenses in February 2024, at a total investment value of SAR 1.9 billion, according to a statement.
The new licenses covered five industrial activities, with 23 issued in the food production sector, 18 in the manufacturing of casting metals, 13 in the manufacturing of non-metallic mineral products, 11 in the manufacturing of chemical products, and nine in the manufacturing of rubber and plastics.
In terms of recipients, national factories received the majority of new licenses in February, accounting for 68.64% of the total. Joint investments came in second with 16.10%, followed by foreign establishments (15.25%).
The national factories also led the way in terms of investment type, receiving 75.66% of the new licenses, followed by foreign establishments (14.47%) and joint investments (9.87%).
The ministry said that 93 factories started actual production in the same month, with a total investment of SAR 1.51 billion. Non-metallic minerals ranked first (13), followed by furniture (12), casting metals (10), chemical industries (10), paper factories (8), and rubber and plastics (8).
National factories constituted 77.42% of the total plants that commenced actual production in February 2024, followed by foreign factories and joint-investment plants at 15.05% and 7.53%, respectively.
|
Key Industrial Indicators in February 2023 |
|
|
New industrial licenses |
118 |
|
Total investment in new factories (SAR bln) |
1.9 |
|
Licensed workforce at new factories |
3,261 |
|
Number of factories starting actual production |
93 |
|
Total investment at factories starting actual production (SAR bln) |
1.5 |
|
New jobs at factories starting actual production |
2,032 |
The total number of industrial licenses issued by the ministry in the first two months of the year stood at 270. The number of existing and under-construction factories reached 11,757 by month-end, with total investments of SAR 1.5 trillion, the ministry added.
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