RIYADH: Saudi Arabia issued 221 new industrial licenses during February, while 112 new factories commenced production in the same month, according to a governmental body.
The monthly industrial indicators report released by the National Center for Industrial and Mining Information revealed that total investments linked to the new licenses exceeded SR2.6 billion ($692.7 million).
These projects are expected to create more than 1,995 job opportunities across various regions of the Kingdom, the report said.
The uptick in industrial activity aligns with Saudi Arabia’s National Industrial Strategy, which aims to boost manufacturing GDP to SR895 billion, double sector employment to 2.1 million, and raise non-oil exports to SR557 billion by 2030.
The report showed that investments in factories that began production in February reached SR890 million, generating an estimated 1,902 new jobs. The figures underscore the “continued expansion of the Kingdom’s industrial base and the accelerating pace at which new factories are entering actual operation.”
Saudi Arabia’s industrial momentum has been further bolstered by the second phase of the standardized industrial incentives program, launched in June.
Offering direct grants of up to SR50 million or 35 percent of total investment, the program targets factories producing critical goods that are currently imported.
Having already attracted over 1,000 investors, the initiative reflects Saudi Arabia’s push to drive high-value investments into priority sectors and strengthen local manufacturing capabilities.
The ministry publishes key industrial indicators on a monthly basis through the National Center for Industrial and Mining Information.
The data tracks industrial activity across the country, including new investment volumes, the number of licenses issued, and factories starting production, part of ongoing efforts to enhance transparency and monitor the Kingdom’s industrial growth trajectory.
