https://arab.news/99rcw
- Number of industrial establishments in the Kingdom increased from 7,206 in 2016 to 11,549 in 2023
- Strategy focuses on 12 industrial sub-sectors, targeting more than 800 investment opportunities worth $266.4 billion
RIYADH: Bolstered by Vision 2030, Saudi Arabia’s industrial sector has witnessed a 60 percent growth in facilities since the launch of the national vision.
The number of industrial establishments in the Kingdom increased from 7,206 in 2016 to 11,549 in 2023, reflecting Saudi Arabia’s efforts to diversify its economy and position itself as a global manufacturing power, according to a statement by the National Industrial Development and Logistics Program on the X platform.
The report revealed that Riyadh currently leads in the number of facilities, with 4,502 factories, followed by the Eastern Province with 2,618 and Makkah with 2,209.
Additional regions, including Al-Qassim, Madinah, and Asir, also host significant industrial infrastructure, contributing to the overall national growth.
This uptick in manufacturing establishments greatly aligns with the National Industrial Strategy, unveiled by Crown Prince Mohammed bin Salman in October 2022, which aims to drive this growth further and expand the sector to approximately 36,000 factories by 2035.
The strategy focuses on 12 industrial sub-sectors, targeting more than 800 investment opportunities worth SR1 trillion ($266.4 billion), striving toward tripling the industrial gross domestic product.
According to NIDLP, facilities across the country are pivotal to advancing Vision 2030’s goals, including economic diversification and sustainable development.
Earlier in February, the Ministry of Industry and Mineral Resources reported a 10 percent annual increase in operational factories in 2023, representing a total investment of approximately SR1.5 trillion.
The body also noted that 1,379 industrial licenses were issued last year, with investments exceeding SR81 billion, while production began in 1,058 factories during the same period, with financial commitments totaling SR45 billion.
It stated that the new permits were distributed among 25 industrial activities, led by food products processing with 244, followed by the manufacturing of non-metallic mineral goods with 176, and formed metal with 165.
A total of 123 licenses were issued to factories engaged in the manufacturing of rubber and plastic products.
Since the launch of NIDLP in 2019, Saudi Arabia has emerged as a key global player in sectors such as energy, mining, industry, and logistics.
These industries are critical to the Kingdom’s broader economic diversification efforts, helping create diverse job opportunities and contributing to a sustainable future for younger generations.
NIDLP leverages the nation’s strategic position as a global trade hub and its wealth of natural resources to foster further industrial growth and logistical efficiency.