Saudi Arabia grants licences for 115 new factories worth SR1.63 billion

Dubai: Saudi Arabia’s Ministry of Industry and Mineral Resources has announced it licensed 115 new factories worth SR1.63 billion in January 2021, local media reported.

The total number of factories that began actual production reached 66. Existing and under-construction factories totaled 9,783 across the Kingdom by the end of January, compared to 9,681 last December.

The total number of Saudi workers in the new facilities decreased to 173, while the total number of expats rose to 3,147.

The Ministry recently has emphasized that it is working to protect national industries from unfair competition.

The ministry will enact regulations that contribute to empower and enhance the competitiveness of national industries in a manner that does not contradict the Kingdom’s obligations due to its accession to the World Trade Organization (WTO) as well as the Gulf and international conventions.

The ministry said in a statement that it is working to create a fair and competitive environment that attracts industrial investments by implementing several tools in cooperation and coordination with various government agencies.