Saudi Arabia issues 118 new industrial licenses in February, totaling SR1.88 billion investment

Saudi Gazette report

RIYADH — The Ministry of Industry and Mineral Resources has announced the issuance of 118 new industrial licenses in February 2024, marking a significant investment in the Kingdom’s industrial sector valued at SR1.88 billion.

The licenses span across five key industrial activities, including food production, manufacturing of metal products, non-metallic products, chemical products, and rubber and plastics.

This latest issuance brings the total number of industrial licenses granted since the start of the year to 270.

By the end of February, the Kingdom boasted 11,757 factories either operating or under construction, with 93 factories commencing production within the month.

The distribution of the new licenses covers 10 regions, showcasing the widespread industrial growth across the country.

Riyadh leads with 40 new factories, followed by the Eastern Region with 35, and Makkah with 22.

Other regions like Qassim, Hail, Jazan, Tabuk, Asir, Madinah, and the Northern Border Region also saw the establishment of new factories, further diversifying the industrial landscape of Saudi Arabia.