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Food products account for 8% of overall industrial sector investments

Princess Tarfa

According to the reports shared by the Ministry of Industry and Mineral Resources, the value of the investment in the food items industry in the Kingdom is roughly SR87 billion, accounting for roughly 8% of overall investment in the industrial sector.

As per the data stated by Saudi Press Agency, food product manufacturers account for 11% of overall factory capacity in Saudi Arabia and lead to the generation of around 82,000 job possibilities.

According to a study released by the National Center for Industrial Data, the majority of food plants in the Kingdom stood at 1,121 in the first quarter of the year 2021, representing a 61% increase in the number of industrial licenses issued.

Data presented as per Research, local investment in the food industry has accounted for up to 90% of investments in this area, with the residual 10% split between foreign and joint ventures.

According to the survey, the small and medium-sized firms in the food industry make for the vast majority of the total number of manufacturing plants in the Kingdom, accounting for an extraordinary ratio of 88%.

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