According to the news agency ‘khabar’, Saudi Arabia’s economic activity has regained momentum, which has had an impact on the country’s industrial sector. In August this year, the Ministry of Industries and Mineral Resources approved 136 industrial licenses, more than in July. The number of approvals in July was 102.
The news agency said according to the state-controlled news agency Saudi Press Agency (SPA), 29 industrial licenses were approved in the food production sector in August. Besides, 21 establishments in non-metallic mineral industry sector, 15 in rubber and plastic sector and 12 in paper production sector have received approval. Between January and August, a total of 795 industrial licenses were approved by the concerned ministry. At this time, the number of factories in the country stood at 11,110. The amount of investment in factories is 1.5 trillion Saudi Riyals.
A significant portion of the approved licenses have been given to domestic companies. Domestic companies received 76.47 % of the total licenses issued. And foreign institutions and joint investment companies got 16.18 % and 7.35 percent respectively.
Photo Courtesy by : Saudi Gazette
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