Saudi Arabia’s industrial activity is getting a spotlight – the Ministry of Industry and Mineral Resources announced that 80 new factories have started operations in February, with an invested amount of $1.1 billion.
The new factories included 30 in the non-metallic minerals industry, 12 in the food business, eight in the formed minerals sector, five in the rubber and plastics trade, and four in the production of chemicals.
The country acquired 86.2% of the total factories that started production, followed by foreign firms with 11.2% and joint ventures with 2.5%.
The ministry also issued 85 new industrial licenses in the same month, with domestic plants holding 82.3% of the issuance, followed by foreign firms at 12.9%, and joint investment at 4.7%. The investment value of the new licenses amounted to $506 million.
Small enterprises acquired most of the licenses at 85.88%, medium enterprises obtained licenses at 11.76%, then micro-enterprises at 2.35%.
It also issued 18 licenses for manufacturing shaped metal products other than equipment and machinery, 14 for food production, and ten for making rubber and plastic products.
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