About 80 new factories have started manufacturing various products in Saudi Arabia in the month of February with an investment of 4.3 billion riyals.
According to Arab News, the Saudi Ministry of Industry and Mineral Resources has stated in the report that compared to the 164 factories that started working in January, this number has decreased by 51%.
According to the details, in February, there were 30 factories in the non-metallic minerals industry, 12 in the food business, eight in the structured minerals sector, five in the rubber and plastic trade and four in the production of chemicals.
The report states that during the same month, the Ministry of Industry and Mineral Resources issued 85 industrial licenses, which is 31 percent less than the 124 issued in January.
Out of the 85 licenses issued in February, 82.3 percent were issued for the domestic industry. The volume of investment in new licenses was 1.9 billion Riyals.
Furthermore, small enterprises were the leading license holders with 85.8 percent of licenses, followed by medium enterprises with 11.7 percent and micro enterprises with 2.3 percent.
New industrial licenses were distributed across nine administrative regions, with Riyadh Region leading the way with 37 factories.
In the second place, licenses for 21 factories have been issued in the Eastern Region, Makkah with eight, Madinah Munawarah and Al-Qasim with five, Asir with four and Al-Jawf region with three.
The Ministry has issued licenses for 18 factories for manufacturing metal products of other sizes, 14 for food production and 10 for manufacturing rubber and plastic products, apart from equipment and machinery.
Last month, Deputy Minister of Industry and Mineral Resources Osama bin Abdulaziz Al Zaml said that since the launch of Saudi Vision 2030 in 2016, the number of factories in Saudi Arabia has increased by 50 percent.