Industry Ministry issues 1,346 licenses worth over SAR 50B in 2024

The Ministry of Industry and Mineral Resources issued 1,346 new industrial licenses in 2024, at a total investment value exceeding SAR 50 billion, as part of its endeavors to stimulate industrial investments and enhance the sector growth.

According to the National Center for Industrial and Mining Information (NIIC), the total number of jobs expected to be created by these licenses is estimated at nearly 44,000.

NIIC added that the total number of factories that began production in 2024 reached 1,075, with investments exceeding SAR 48 billion. The workforce in these factories is estimated at 39,000 workers.

Key Industrial Indicators in December 2023
New industrial licenses	1,346
Total investment in new factories (SAR bln)	50
Licensed workforce at new factories	44,000
Number of factories starting actual production	1,075
Total investment at factories starting actual production (SAR bln)	48
New jobs at factories starting actual production	39,000

Moreover, the total actual workforce in licensed industrial establishments during 2024 reached 927,000, with the number of Saudi employees amounting to 333,000, as shown in the following table:

Actual Workforce at Licensed Establishments in 2024

Total Workforce

(‘000)

YoY Change

(‘000)

Expats

594

+66

Saudis

333

+88

Total