Ministry of Industry and Mineral Resources issued 53 new industrial licenses in April 2023

In April 2023, the Ministry of Industry and Mineral Resources (MIM) awarded 53 new industrial licences. The licences were spread among seven industrial activity, with food processing receiving the most with nine licences. It was followed by eight licences each for the manufacture of formed metal products and other non-metallic mineral goods. Four licences were awarded for various operations connected to the fabrication of basic metals, paper and paper goods, rubber and plastics products, and water collection, treatment, and delivery.

According to a report issued by the MIM's National Centre for Industrial and Mining Information, the total number of industrial licences issued by the ministry from the beginning of 2023 until the end of April amounted to 385 licences, while the number of existing and under-construction factories in Saudi Arabia until the end of the same month reached 10,873, with an investment value of SR1.440 trillion.

As per the study, the investment value of the new businesses licenced in April was SR5.8 billion. Small businesses obtained the most new licences in April (94.34%), followed by larger businesses (5.66%). National manufacturers received 66.04% of the total number of licences based on the kind of investment, followed by international firms (11.32%). Joint investment enterprises made up 22.64% of the total.

According to the data, the number of factories that began production in April reached 24, with an investment value of SR155 million. Four of the factories are for rubber and plastic units, and two are for paper, nonmetallic minerals, wood, and formed metals. The proportion of national factories that began production in April was the highest, at 85.71%. Joint investment factories and overseas factories accounted for 7.14% of the total.

The Ministry of Industry and Mineral Resources publishes monthly the most significant industrial indicators that define the nature of Saudi industrial activity through the National Centre for Industrial and Mining Information. The monthly report includes details changes in the sector's volume as well as new industrial investments and companies that have begun operations.