Ministry of Industry Issues 1346 New Industrial Licenses in 2024 with Investments Exceeding 50 Billion Riyals
The Ministry of Industry and Mineral Resources has announced the industrial sector indicators for the year 2024, revealing the issuance of 1346 new industrial licenses with investments exceeding 50 billion riyals. This initiative is part of the ministry’s efforts to stimulate industrial investments and enhance the growth of the industrial sector in the Kingdom.
According to a report from the National Center for Industrial and Mining Information, which is affiliated with the ministry, a comprehensive analysis of the industrial sector indicators and variables for the previous year was provided. It was estimated that the total number of jobs that will be created by the new industrial licenses issued in 2024 is around 44,000.
The report also highlighted that a total of 1,075 factories began production in 2024, with investments totaling over 48 billion riyals. The workforce in these factories was estimated to be around 39,000 employees.
It is worth noting that the Ministry of Industry and Mineral Resources regularly releases key industrial indicators through the National Center for Industrial and Mining Information. These indicators reflect the industrial activity in the Kingdom and reveal the scale of changes in the sector, whether in terms of the number of new industrial licenses issued or factories starting production.
