Ministry of Industry and Mineral Resources Issues 122 New Industrial Licenses Worth SAR 1.85 Billion in Riyadh
|Non-Metallic Minerals and Food Sectors Lead Factory Openings with Combined Investment of SAR 6.05 Billion
The Ministry of Industry and Mineral Resources disclosed that a total of 122 new industrial licenses were granted in December 2023, with an impressive combined investment value of SAR 1.85 billion. This information was officially released in a statement today, February 4.
The new licenses encompassed five different industrial sectors, with manufacturing non-metallic mineral products and casting metals both receiving 18 licenses each. The food production sector followed closely with 15 licenses, while 11 licenses were issued in the manufacturing of chemical products and 10 in the manufacturing of rubber and plastics.
Of the recipients, it was noted that small-sized enterprises dominated the scene, obtaining 89.34% of the newly issued licenses in December 2023. Medium-sized enterprises came in second with 9.84%, while micro enterprises accounted for 0.82% of the total licenses.
In terms of investment type, national factories claimed the majority share, acquiring 77.05% of the new licenses. Foreign establishments secured 13.93%, and joint investments accounted for 9.02% of the newly licensed industrial activities.
Additionally, the Ministry revealed that 119 factories commenced actual production in the same month, with a remarkable total investment of SAR 4.2 billion. The leading sector in terms of actual production initiation was non-metallic minerals, with 31 factories starting operations. Following closely was the food production sector, with 16 factories launching production. Rubber and plastics witnessed the initiation of 12 factories, while manufacturing of casting metals saw 11 factories commence operations. Paper factories finalized the list with 8 factories commencing production.
Regarding the distribution of these factories, national factories notably comprised 80.67% of the plants that began actual production in December 2023. Foreign factories represented 11.76% of the total, while joint-investment plants accounted for 7.56% of the newly operational factories.
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