Sign in
More and more industrial licenses: The number of industrial licenses granted by the Industry and Mineral Resources Ministry rose by 54.4% y-o-y in December 2023 to 122, data from the ministry showed yesterday (here and here). The licenses appear to have been for smaller projects on the whole: total investment by value was down a bit over 17% to SAR 1.85 bn compared to December 2022.
Driving growth: Non-metallic minerals and non-ferrous metal manufacturing (18 licenses each, food manufacturing (15 licenses), chemical manufacturing (11 licenses), and rubber and plastics (10).
A look at the full year: The number of industrial licenses grew 43% y-o-y for 2023 to c. 1.38k licenses, while investment volume was up 8% y-o-y for the same period to SAR 1.4 trn.
