• Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
Saudi Business News
Wednesday, May 14
08:58
28 °c
Riyadh
No Result
View All Result
Saudi Business News
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
No Result
View All Result
Saudi Business News
No Result
View All Result

HomeBusinessSaudi Manufacturing Sector Expands by 10% in 2023

Saudi Manufacturing Sector Expands by 10% in 2023

A Surge in Industrial Activity and New Factories

February 26, 2024
in Business
Reading Time: 2 mins read
152
SHARES
1.9k
VIEWS
Share on FacebookShare on XShare on LinkedInShare on Telegram

The industrial landscape of Saudi Arabia has witnessed a significant upsurge with a 10 percent increase in the number of operational factories by the conclusion of 2023, as reported by the Ministry of Industry and Mineral Resources. The total count of factories reached 11,549.

In a notable industrial expansion, the ministry disclosed that the past year saw the issuance of 1,379 new industrial licences, drawing in investments of SR81 billion (approximately $21.6 billion). Furthermore, production commenced in 1,058 of these new establishments, representing an investment of SR45 billion (around $12 billion).

RelatedPosts

Private Aviation Expansion in Saudi Arabia: New Charter Rules

Saudi Arabia Startup Expansion: Key Steps for Success

Esports World Cup: Saudi Arabia’s $70M Gaming Investment

Saudi Industrial Expansion

Ministry spokesperson Jarrah Al Jarrah provided insights into the distribution of the new licences, which spanned across 25 industrial sectors. The combined investments for all 11,549 factories were estimated at SR1.541 trillion (equivalent to $411 billion).

Leading the charge in industrial activities were sectors such as:

  • Food product manufacturing
  • Production of non-metallic mineral products
  • Formation of metal products
  • Manufacturing of rubber and plastic products

National entities garnered the majority of industrial licences, tallying up to 1,043. Foreign investments were not far behind with 194 licences, and joint ventures received 142 licences.

When examining the size of establishments, small enterprises dominated licence allocation with 1,203 licences, while medium-sized companies obtained 158 licences, micro-enterprises secured 15, and large-scale businesses were granted three licences.

Geographical distribution of the licences varied, with the Riyadh Region claiming the lion’s share at 479 licences. The Eastern Region followed with 340, Makkah Region with 269, Qassim Region with 87, and the Madinah Region with 79 licences.

The Ministry of Industry and Mineral Resources regularly publishes vital industrial indicators through the National Industrial and Mining Information Centre. These indicators offer a glimpse into the industrial sector’s dynamics, highlight shifts within the industry, and shed light on new industrial ventures.

Tags: Industrial GrowthinvestmentLicencesNew Factoriessaudi arabia
Share61Tweet38Share11Share

© 2025 Copyright, Saudi Business News

No Result
View All Result
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line

© 2025 Copyright, Saudi Business News

Go to mobile version