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Food plants lead 14% increase in Saudi industrial licences in November

Food plants lead 14% increase in Saudi industrial licences in November

Food plants lead 14% increase in Saudi industrial licences in November

Image: Arab News

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RIYADH: Food plants are leading industrial sector new licences in November, which saw a 14 per cent increase, Arab News quoted official data, as showing.

Saudi Arabia’s Ministry of Industry and Mineral Resources issued 68 licences to industrial units in November with investments amounting to SR735 million ($159 million), a statement said.

The statement said the issuance of industrial licences rose 14 per cent as compared to the previous month and the number of industrial facilities in the kingdom reached 10,253 as of November.

According to a report issued by the National Center for Industrial and Mining Information, the food industry took the major chunk of the licences with 14 permits, followed by the chemicals industry with nine. As per the geographical distribution of the industrial units, the Riyadh region led other parts of the kingdom with 24 licences followed by the Eastern Province with 17.

Of the total, 89 per cent of the licences were issued to small factories in November followed by 8.7 per cent medium industrial enterprises. Five per cent of the licences were issued to foreign investors.

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The report said the volume of investments in the factories that started operations is estimated at SR1.6 billion. It said 2,383 jobs were created in the industrial sector during November.

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