Ministry of Industry licenses 78 new factories worth SAR 635 mln in October

Logo of Ministry of Industry and Mineral Resources

Saudi Arabia licensed 78 new factories at a total investment value of SAR 635 million in October 2022, data issued by Ministry of Industry and Mineral Resources showed.

These licenses distributed among five activities, led by manufacturing food products with 20 licenses, then manufacturing of shaped metals, except for machinery and equipment, with 14 licenses.

Manufacturing rubber and plastic products came third with nine licenses, while the activity of manufacturing other non-metallic products registered eight licenses, and the activity of manufacturing chemicals and chemical products followed with seven licenses. 

Small-sized enterprises dominated most of the new issued licenses in October with 92.31 %, followed by medium-sized enterprises with 7.69 %. 

Meanwhile, the national factories accounted for 70.51% of new licenses, followed by foreign businesses by 17.95%, and finally joint investments by 11.54%. 

The report issued by the National Center for Industrial and Mining Information showed that the total number of industrial licenses issued by the Ministry of Industry since the beginning of this year amounted to 803 licenses, while the number of existing factories reached 10,788 with an investment volume of SAR 1.374 trillion.