Saudi Arabia issued 260 new industrial licenses during the first quarter of 2022 — up from the 206 handed out in the previous three months, the government has revealed.
Figures issued by the Ministry of Industry and Mineral Resources show that while there was a quarter-on-quarter rise, the number approved was down from 308 in the same period of 2021.
Riyadh benefited from most of the new licenses — 109 — with the Eastern region securing 61 and Makkah receiving 45.
The size of new industrial investment totaled SR5.53 billion ($1.47 billion), while the number of jobs provided by licensed companies amounted to 8,053.
Factories
As at the end of the first quarter, the total number of factories both operating and under establishment totaled 10,489.
Factories processing non-ferrous metals had the largest share, followed by rubber and plastic products and non-metallic minerals.
The cumulative size of investment in capital of these factories amounted to SR1.35 trillion at the end of the first quarter of 2022.
Small and medium enterprises dominated the industry, accounting for 5,273 and 4,386 factories respectively, with the remaining 830 being large companies.
The Riyadh administrative region held the highest level of industrial units at 5,273 factories. The Eastern region came second with 2,291 factories, and the Makkah region 1,783 factories.
Source:https://www.arabnews.com/node/2069621/business-economy