Saudi Arabia’s industrial sector marked a notable advance with the launch of 103 new factories in January, drawing investments of SR900 million and creating over 1,500 jobs. This progress reflects the nation’s broader push to expand its industrial base as part of ongoing economic diversification efforts.
The Ministry of Industry and Mineral Resources also granted 63 new industrial licenses that month, signaling robust momentum in manufacturing and production. These initiatives align with the Kingdom’s Vision 2030 plan, which prioritizes reducing dependence on oil by strengthening sectors like petrochemicals, mining, and renewable energy.
Saudi Arabia aims to grow its number of factories to 36,000 by 2035, with a goal of automating 4,000 facilities. This underscores a commitment to innovation and advanced manufacturing.
Statistical data showed a 1.3 percent annual increase in the industrial production index in January, driven by gains in manufacturing—especially in petroleum products and chemicals. Investments tied to new licenses reached SR1.197 billion, projected to generate more than 2,500 jobs.
In 2023, the country’s total industrial units rose by 10 percent, reaching 11,549, supported by investments amounting to SR1.54 trillion. These figures highlight Saudi Arabia’s ongoing transformation into a regional industrial powerhouse.