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In April, Saudi Arabia's Ministry of Industry and Mineral Resources granted 86 new industrial licenses, amounting to investments of SAR2.2 billion (USD587 million). This brings the total number of licenses issued so far this year to 410.
According to a report from the ministry’s National Center for Industrial and Mining Information released on Sunday, 67 factories commenced production in April, with investments totaling SAR1.5 billion (USD400 million).
The report indicated that food production saw the highest number of new factories at 12, followed by chemicals with 11, and rubber/plastics with 10.
It was noted that 92.5% of the new factories were domestic, with joint ventures at 5.9% and foreign investments at 1.49%.
As of April 2024, Saudi Arabia had a total of 11,800 operational or under-construction factories, with investments amounting to SAR1.4 trillion (USD373 billion), up from approximately 10,800 in April 2023.
Small-scale facilities received 80.2% of the new licenses, followed by medium-scale at 13.9%. All the new licenses by investment type were for domestic factories.
The new licenses were spread across 10 regions, with Riyadh leading with 36 factories, followed by Makkah with 22, and the Eastern Region with 17. Medina had three factories, while Qassim and Hail had two each. Najran, Asir, Al Jouf, and Tabuk each had one.
The ministry’s updates offer insights into the industrial activity in Saudi Arabia, showcasing the changes in new investments and factory openings on a monthly basis.
