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Some 152 industrial licenses were issued in January 2024 for projects with a combined investment cost of SAR 6.2 bn, the Industry and Mineral Resources Ministry said in a post on X last week. That’s up from 122 licenses granted in December 2023.
Small enterprises accounted for 89.5% of all the recipients, followed by medium enterprises (8.6%), and large enterprises (13%). Some 75.7% of recipients were local players.
The new licenses covered five industrial activities, with the highest number of licenses issued for food production (27), followed by non-metallic mineral products (20), metal casting (19), rubber and plastics production (18), and chemical product manufacturing (14).
2023 in a nutshell: The number of industrial licenses grew 43% y-o-y in 2023 to 1.38k licenses, while investment volume was up 8% y-o-y to SAR 1.4 tn.
