Ministry of Industry and Mineral Resources issues 124 industrial licenses in January 2023

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Ministry of Industry and Mineral Resources

Mar 29, 2023, 09:04 ET

RIYADH, Saudi Arabia, March 29, 2023 /PRNewswire/ -- The Ministry of Industry and Mineral Resources announced the issuance of 124 new industrial licenses during the month of January 2023. The licenses were distributed across five industrial categories, with 29 licenses issued for food manufacturing, 18 licenses issued for non-metallic mineral production, 12 licenses issued for manufacturing chemicals and chemical products, 11 licenses for metal product manufacturing (excluding machinery and equipment), and 8 licenses for the manufacturing of rubber and plastic products.

Ministry of Industry and Mineral Resources issues 124 industrial licenses in January 2023

Data from the Ministry also indicated that investments into new licenses for the month of January 2023 amounted to 2.4 billion riyals, with small businesses acquiring 86% of new industrial licenses, medium-sized enterprises 11%, and micro-sized businesses 2.5%. Overall, national factories hold 80% of all licenses, followed by foreign establishments which hold 10.5% of licenses, and joint investment establishments which hold 10%.

According to data from the Ministry's National Center for Industrial and Mining Information for January 2023, the number of existing factories in the Kingdom and those under construction totaled 10,633 factories, amounting to 1.4 trillion riyals of investments.

Of these, 164 factories started production in January 2023 with an investment of 2.7 billion SAR. National factories accounted for 89% of this total, followed by foreign-owned factories at 7%, and joint factories at 4%. Non-metallic metal factories took the lead with 32 factories, followed by 31 food factories, 21 fabricated metal factories, 18 rubber and plastics factories and 12 chemical factories.

The new industrial licenses mentioned in the report were distributed to 12 administrative regions, led by the Riyadh region with 44 factories, followed by the Makkah Al-Mukarramah and the Eastern Province with 24 factories for each region, then the Qassim region with 10 factories, the Madinah region with 8 factories, the Jizan region with 5 factories, and the Asir region with 3 factories, the Hail region with two factories, the Northern Borders region, Tabuk, Al-Jouf, and Najran, with one factory for each region.

The Ministry of Industry and Mineral Resources regularly releases vital information on industrial and mining activities through the National Center for Industrial and Mining Information. This monthly report showcases the evolving landscape of the industry, highlighting new investments and job opportunities within the Kingdom.

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SOURCE Ministry of Industry and Mineral Resources