Riyadh, September 04, 2023, In July 2023, the Ministry of Industry and Mineral Resources issued 102 new industrial licenses. The production of food products received the most licenses (21), then the production of non-metallic mineral products (16), the production of shaped metals other than machinery and equipment (14), the production of rubber and plastic goods (9), and other manufacturing industries (8). A report from the ministry's National Center for Industrial and Mining Information states that 659 industrial licenses were issued by the ministry from the start of this year through the end of July, while 11,032 factories were already operating or were in the process of doing so in the Kingdom during the same time period, with investments totaling SAR1.479 trillion. According to ministry data, SAR 1.2 billion was invested in operations for which new licenses were awarded in July 2023, with small businesses gaining 80.39% of those permits and medium-sized businesses 18.63%.
According to the kind of investment, national manufacturers currently hold 75.49% of all permits, followed by foreign establishments (14.71%) and joint investment establishments (9.80%).
According to the report, 64 factories began operations in July with an investment volume of SAR 1.6 billion, with 16 of them producing non-metallic minerals. Following these were two factories that produced base metals, eight factories that produced shaped metals, four factories that produced rubber and plastics, and 15 factories that produced food. National factories made up 84.94% of all factories that started producing in July, while joint factories came in second with a 7.81% share and foreign-owned factories came in third with a 6.25% share.
Through the National Center for Industrial and Mining Information, the Ministry of Industry and Mineral Resources frequently publishes crucial information on industrial and mining activity. This monthly report highlights new investments and employment possibilities in the Kingdom while showcasing the industry's changing landscape.
