The Saudi Arabian Ministry of Industry and Mineral Resources has granted 86 new industrial licenses in April, signifying an investment influx of SAR2.2 billion (USD587 million). This achievement raises the total number of licenses issued since the beginning of the year to 410.
Revealed by the ministry’s National Center for Industrial and Mining Information on a recent Sunday, it was reported that 67 factories commenced production in the month of April, representing SAR1.5 billion (USD400 million) in investments.
Leading the industrial expansion, the food production sector welcomed 12 new factories. This was closely followed by the chemical sector with 11, and the rubber and plastics industry with 10.
The data highlights that a staggering 92.5% of the new manufacturing plants are domestically owned. Joint ventures accounted for 5.9%, while foreign investments made up a modest 1.49%.
As of April 2024, the total number of factories in operation or under development in Saudi Arabia reached 11,800, a significant increase from approximately 10,800 factories recorded in April 2023. These factories represent a combined investment of SAR1.4 trillion (USD373 billion).
Of the new licenses issued, the majority—80.2%—were granted to small-scale operations, while medium-sized enterprises received 13.9%. Notably, domestic investment was the sole contributor to the new licenses issued.
The distribution of the new licenses spanned 10 different regions within the kingdom. Riyadh topped the list with 36 new factories, followed by Makkah with 22, and the Eastern Region with 17. Additional regions, including Medina, Qassim, Hail, Najran, Asir, Al Jouf, and Tabuk, also saw factory openings, albeit on a smaller scale.
Through these regular updates, the Ministry of Industry and Mineral Resources sheds light on the evolving landscape of Saudi Arabia’s industrial sector, providing valuable information on the country’s monthly investment patterns and manufacturing developments.
