Industry Ministry issues 130 licenses worth SAR 24.3B in November

The Ministry of Industry and Mineral Resources issued 130 new industrial licenses in November, at a total investment value of SAR 24.3 billion.

The new licenses covered five industrial activities with 20 licenses issued in the food production sector, followed by manufacturing of non-metallic mineral products (16), manufacturing of casting metals (15), manufacturing of rubber and plastics (12) and manufacturing of chemical products (10).

Small-sized enterprises received most of the new licenses in November, accounting for 93.08% of the total. Medium-sized enterprises followed with 6.15%.

National factories dominated 77.77% of the new licenses, followed by foreign establishments (20%) and joint investments (9.23%).

The report also showed that 88 factories started actual production in the same month, with total investments of SAR 8.790 billion. Food production took the first place (13), followed by non-metallic minerals (11), then rubber and plastics and chemical factories with 8 each.

National factories comprised 73.86% of the total factories that started production in November, followed by foreign factories and joint-investment plants at 13.64% and 12.50%, respectively. 

The total number of industrial licenses issued by the ministry from January to November stood at 1,257. The number of existing and under-construction factories by the end of November reached 11,469, with total investments amounting to SAR 1.538 trillion, the report added. 

Source: Argaam