Arab News, Tue, Feb 27, 2024 | Shaban 17, 1445
Saudi Arabia records 10% surge in number of factories
Saudi Arabia:
The number of industrial units in Saudi Arabia recorded a 10 percent surge year
on year in 2023 to reach 11, 549, according to the Ministry of Industry and
Mineral Resources.
A spokesman for the minister, Jarrah bin Mohammed
Al-Jarrah, revealed that the new industrial establishments were set up with an
investment of SR1.54 trillion ($48.4 billion).
The rise in the number of factories falls in line
with the Kingdom’s plan of boosting industrialization and achieving a target of
36,000 plants by 2035.
Moreover, the number of new industrial licenses
issued in 2023 reached 1,379, with investments amounting to more than SR81
billion.
On the other hand, production began in a total of
1,058 factories during the same year with investments amounting to SR45 billion.
In addition, Al-Jarrah noted that the new licenses
were distributed among 25 industrial activities, led by food products
manufacturing with 244 permits, followed by the manufacturing of non-metallic
mineral products (176) and the manufacturing of formed metal products with 165.
A total of 123 licenses were issued to factories engaged in the manufacturing of
rubber and plastic products.
With a vision to increase the number of factories
to 36,000 by 2035, including 4,000 which will be fully automated, Saudi Arabia
is poised to create a dynamic and innovative production landscape.
The adoption of advanced technologies, including
artificial intelligence, 3D printing, and robotics, positions Saudi industries
as global leaders of this revolution.
The Kingdom’s industrial sector is experiencing
sustained growth, with investments in manufacturing reaching $132 billion since
the launch of the economic diversification strategy Vision 2030 in 2016.