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Licenses for 102 new factories exceeding SR15 billion have been provided

Princess Tarfa

The Ministry of Industry and Mineral Resources have announced, through the Industrial Indicators Report, that 102 new industrial licenses worth SR15.23 billion were released in the month of March 2021.

The Ministry of Industry and Mineral Resources have announced, through the Industrial Indicators Data, that 102 new industrial licenses were released in March 2021, with a capital of SR15.23 billion, representing a 55 percent annual growth rate over the same month in 2020.

The survey, which has been released by the National Center for Industrial Information, also suggests that approximately 39 factories started production in the last month. It represented a 26 percent increase over the previous month, while the amount of investment in the new factories that began production had increased by 681 percent over the previous month.

According to the survey, the industrial sector saw the entry of approximately 2,146 Saudi employees during the same month, while the number of foreign employees entering the sector reached upto approximately 826 jobs. The sector has also seen a rise in the number of established industrial establishments, hitting 958.9 establishments, with an expected investment value of SR1,123 trillion.

It stressed that the national spending has been accounted for 90% of all factories that began manufacturing.

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