RIYADH – Saudi Arabia's Ministry of Industry and Mineral Resources has issued 60 new industrial licenses with a volume of investments amounting to more than SR1.5 billion during the month of October. The ministry announced that it has recorded a monthly increase in the investment volume estimated at 0.18 percent, compared to last September, as 90 factories have started production operations. According to the latest report of the National Center of Industrial and Mining Information, the total number of factories in the Kingdom has reached about 10,216 factories by the end of October 2021, an increase of 0.23 percent compared to the previous month. The total investments volume in the industrial sector reached SR1.33 trillion. The report showed that the industrial sector employed 8,630 workers during October. The Saudization rate reached a monthly increase of 1.8 percent, as 3,194 Saudis were employed, while the number of expatriate workers reached 5,436, and 1,701 licensed workers with new industrial licenses. The largest share of the new industrial licenses goes to food products industry, as it obtained ten licenses, followed by seven licenses for the non-ferrous metal products manufacturing, and then the rubber and plastic products manufacturing. According to the report, the small factories have accounted for 83 percent of the new industrial licenses issued during the month. The new industrial licenses owned by national capitals amounted to 83.3 percent, while the foreign investments rate increased by 8.3 percent. The ministry said that 90 factories had started production with an investment volume exceeding SR2.2 billion during October. The total number of licensed workers for factories reached 4,000, while small factories got the largest percentage with 65 percent. The ministry report also revealed the extent of change in the new industrial investments sector, in addition to the size of the jobs that have been created by the sector.
