Saudi Arabia’s industrial sector is fast picking up steam, with the government issuing 99 new licenses in May to set up new factories, the latest official data showed.
According to the Ministry of Industrial and Mineral Resources, the top economic activities receiving the licenses included food production at 16, carpentry at 10, and non-metallic mineral production at nine.
It also issued nine new licenses for chemical production units, while formed metal manufacturing, as well as rubber production units, received eight licenses each.
The report indicated that the volume of investments these new licensees committed to make was SR20.1 billion ($5.35 billion). —AN
