SR21.76 billion invested in 816 new industries


Saudi Gazette report

RIYADH – A total 816 industrial projects are under construction across the Kingdom, involving a total capital investment of SR21.76 billion and creating jobs for 65,816 workers, according to information provided by the Ministry of Energy, Industry and Mineral Resources.

The mineral industries topped the list of new industrial projects with 212 plants under construction, followed by nonferrous metallic industries 130, rubber and plastic products plants 128, food industries 59 and chemical industries 55, the ministry said.

The ministry estimated the total number of operating industries at 7,788, which were established with a total investment of SR1.094 trillion. They employ 1,048,933 workers.

Saleh Al-Sulami, deputy minister for industrial affairs, said his ministry was following implementation of new industrial plants and removes the obstacles they face.

“Our industrial development programs augur well with the new Vision 2030 and we provide all facilities and incentives to industrialists and encourage investment in the sector,” he said.

The new national strategy has been designed to increase added value to the industrial sector and boost the Kingdom’s industrial exports, Al-Sulami said.

The ministry’s agency for industrial affairs supervises the National Center for Industrial Information, which was set up as part of the National Transformation Program 2020.

“The center was set up to provide accurate information about industries in the Kingdom to enhance confidence of investors from within and outside the country,” Al-Sulami told Al-Eqtisadiah business daily. “The center will provide statistical information about the Kingdom’s industries.”

The correct information received from the center will contribute to industrial decision-making, drawing industrial policies and strengthening the sector, the deputy minister said, adding that it would help achieve industrial integration.

The ministry has urged industrialists to provide all information about their factories and industries to develop a database that would contribute to strengthening the sector.

“The center analyses information about industries and issues regular reports on industrial growth in the country and classifies industrial products,” Al-Sulami said. It will also identify the agency’s information requirements and collect information about licensed industries.

The information collected by the center will include the industrial plant’s products, existing and future capacity, number of workers, actual production and product classification. The center will assist Saudi and foreign businessmen to know industrial investment opportunities in the Kingdom.