Ministry of industry licenses 53 factories in April

Saudi Arabia licensed 53 new factories at a total investment value of SAR 5.8 billion in April, the Ministry of Industry and Mineral Resources said in a statement today, July 5. 

The ministry indicated that these licenses were divided into seven activities, topped by manufacturing of food products with nine licenses. This was followed by the activities of other non-metallic minerals (eight licenses), manufacturing of formed metals, manufacturing of rubber products, and water treatment (four licenses each).
 

Small-sized enterprises dominated most of the newly issued licenses in April with 94.34%, followed by medium-sized enterprises.
 

In terms of investment type, national factories topped at 66.04%, followed by foreign enterprises and joint investment at 11.32% and 22.64%, respectively.

The National Industrial Development Center (NIDC) showed that the factories that started production in April reached 14 factories, with investments amounting to SAR 155 million.
 

Rubber and plastics factories accounted for four. Paper and non-metallic minerals, timber, formed metals had two factories each.

Total industrial licenses issued by the ministry from January-April amounted to 385, while the number of existing factories reached 10,873, with an investment volume of SAR 1.44 trillion, according to a report issued by the National Industry Information Center (NIIC).

Source " Argaam