Saudi ministry issues 123 new industrial licenses in March 2023

Saudi ministry issues 123 new industrial licenses in March 2023

Riyadh: The Ministry of Industry and Mineral Resources (MIM) granted 123 new industrial licenses in March this year. The category that received most licenses was of food products (19), followed by rubber and plastic products, (15), metalworking products (excluding equipment and machinery), (14 licenses), non-metallic mineral products (12) and chemical materials(11) .

According to a report from the Ministry's National Centre for Industrial and Mining Information, MIM has issued 332 industrial licenses from the start of this year and until the end of March. The Kingdom currently counts 10,825 factories, which are either operational or under construction. These factories represent a total investment volume of SAR1.4 trillion.

In March, SAR3.9 billion was invested in new licenses. Small enterprises accounted for 86.99% of the new industrial licenses, while medium enterprises accounted for 13.01%. National investments received the highest percentage of total licenses issued, at 73.17%, followed by foreign investments, at 15.45%, and joint ventures, at 11.38%.

MIM's National Centre for Industrial and Mining Information reported that 56 factories with a total investment volume of SAR959 million began production in March.

Non-metallic mineral factories led the way with 15 new factories, followed by shaped metal factories with eight, and food and chemical factories with seven each.

Machinery