Industry Ministry issues 122 licenses worth SAR 1.9B in December 2023

Logo of Ministry of Industry and Mineral Resources

The Ministry of Industry and Mineral Resources issued 122 new industrial licenses in December 2023, at a total investment value of SAR 1.85 billion, according to a statement today, Feb. 4.

The new licenses covered five industrial activities, with 18 licenses issued in each of the manufacturing of non-metallic mineral products and the manufacturing of casting metals sectors. The food production sector followed with 15 licenses, then manufacturing of chemical products (11) and manufacturing of rubber and plastics (10).

In terms of recipients, small-sized enterprises received most of the new licenses in December 2023, accounting for 89.34% of the total. Medium-sized enterprises followed with 9.84%, then micro enterprises (0.82%).

By investment type, national factories dominated 77.05% of the new licenses, followed by foreign establishments (13.93%) and joint investments (9.02%).

The ministry also confirmed that 119 factories started actual production in the same month, with total investments of SAR 4.2 billion. Non-metallic minerals took first place (31), followed by food production (16), then rubber and plastics (12), manufacturing of casting metals (11), and paper factories (8).

National factories constituted 80.67% of the total plants that commenced actual production in December 2023, followed by foreign factories and joint-investment plants at 11.76% and 7.56%, respectively.

The total number of industrial licenses issued by the ministry between January-December 2023 stood at 1,379. The number of existing and under-construction factories reached 11,549 by month-end, with total investments of SAR 1.54 trillion, it added.