The Ministry of Industry and Mineral Resources granted 123 new industrial licenses in March this year

In March of this year, the Ministry of Industry and Mineral Resources (MIM) issued 123 new industrial licences. Food items earned the most licences with 19, followed by rubber and plastic products with 15, metalworking products (apart from machinery and equipment) with 14, non-metallic mineral products with 12 licences, and chemical materials with 11.

A study from the Ministry's National Centre for Industrial and Mining Information shows that between the beginning of this year and the end of March, MIM awarded 332 industrial licences. 10,825 factories are now either in operation or being built around the Kingdom. A total of SR1.4 trillion was invested in these factories. SR3.9 billion was spent on new licences in March. 86.99% of the new industrial licences went to small businesses, while 13.01% went to medium-sized businesses. In terms of the overall number of licences granted, national investments obtained the biggest proportion (73.17%), followed by foreign investments (15.45%) and joint ventures (11.38%).

According to MIM's National Centre for Industrial and Mining Information, 56 enterprises with a combined investment of SR959 million started producing in March. With 15 new factories, non-metallic mineral manufacturers took the lead. Shaped metal industries came in second with 8. Food and chemical companies each added seven. With 5 new factories, machinery and equipment factories completed the list. 94.64% of the newly producing factories were registered as national, compared to 3.57% joint ventures and 1.79% foreign firms.

Twelve areas received the new industrial licences, with Riyadh receiving the most with 46. The Eastern Province and Makkah followed with 29 and 18, respectively. Hail received six licences, Asir three, and Jazan two. Qassim received eleven. Al-Jouf, Al-Baha, and the Northern Border each obtained one licence, while Tabuk and Madinah each received two.

The study states that 10,500 new positions were generated in the industrial sector in March, 7,255 of which were filled by Saudi nationals. The most significant industrial indicators are released each month by the National Centre for Industrial and Mining Information. They offer insightful information on the Kingdom's industrial sector, including updates on recent industrial developments and employment openings within the industry.