RIYADH — The Ministry of Industry and Mineral Resources (MIM) issued 53 new industrial licenses in April 2023.
The licenses were distributed over 7 industrial activities, topped by food processing with 9 licenses. It was followed by the manufacturing of formed metal products and other non-metallic mineral products with 8 licenses each.
Various activities related to the manufacture of basic metals, paper and paper products, rubber and plastics products, and water collection, treatment, and supply were issued 4 licenses each.
A report issued by the National Center for Industrial and Mining Information under the MIM has indicated that the total number of industrial licenses that the ministry issued from the start of 2023 until the end of April amounted to 385 licenses, while the number of the existing and the under-construction factories in Saudi Arabia until the end of the same month reached 10,873, which an investment value of SR1.440 trillion.
As for the investment value of the new ventures licensed in April, the report revealed that it amounted to SR5.8 billion. Small enterprises received the highest number of new licenses during April at 94.34%, followed by medium enterprises at 5.66%.
The national factories came at the forefront of the total number of licenses according to the type of investment at 66.04%, followed by the foreign enterprises at 11.32%. Joint investment enterprises were 22.64%.
The report showed that the factories which started production in April reached 24, with an investment value of SR155 million. Four of the factories for rubber and plastic units, and 2 factories each for the manufacture of paper, non-metallic minerals, wood, and formed metals.
The national factories had the highest percentage of factories that started production in April at 85.71%. Joint investment factories and foreign factories constituted 7.14%.
The Ministry of Industry and Mineral Resources, through the National Center for Industrial and Mining Information, issues monthly the most important industrial indicators that clarify the nature of industrial activity in Saudi Arabia.
The monthly report also reveals the changes in the volume witnessed by the sector and new industrial investments and factories that have started production.