Saudi Arabia's Industrial Sector Seeing Massive Growth with 332 New Licenses Issued in Q1 2023
According to a report by the Ministry of Industry and Mineral Resources, Saudi Arabia issued 332 new industrial investment licenses with a total investment value of SR8.2 billion in the first quarter of 2023.
The ministry also said that 300 factories have started production with an investment of SR7.9 billion.
As of March 2023, the total number of factories in Saudi Arabia reached 10,800, with an investment of SR1.4 trillion.
The industrial sector was able to create 28,000 job opportunities, with 54% of them going to Saudi citizens.
Additionally, the total number of valid mining licenses in the sector reached 2,314 licenses.