Saudi Gazette report

RIYADH — The Ministry of Industry and Mineral Resources has licensed 196 new plants at a total investment cost of over SR3 billion, only 3 months after the government decided to pay expat fees for the industrial sector employees, Minister Bandar Alkhorayef said in a tweet.

More than 10,000 new employees, including 5,000 nationals, are working in these facilities, Alkhorayef said, adding that these promising numbers reflect the industrial sector’s role in creating jobs across the Kingdom.

The Saudi Cabinet announced that it would pay five-year mandatory fees for expatriates working in the industrial sector starting from Oct. 1, 2019.

Earlier, Al-Khorayef said that his ministry would focus on further empowering the private sector and creating more jobs for Saudis. He made these remarks when the ministry began formally functioning as an independent entity from Jan. 1.

The ministry was established on Aug. 30 last year through a Rroyal Decree, after separating it from the Ministry of Energy. Under the Royal Order, the powers, tasks and responsibilities related to the two sectors of industry and mineral resources were transferred to the new ministry.

Accordingly, the Ministry of Energy, Industry and Mineral Resources was renamed the Ministry of Energy.

Al-Khorayef said the ministry is striving hard to achieve sustainable development in line with the Kingdom’s Vision 2030, which identified industry and mining as two strategic options to diversify the national economy.