Ministry of Industry licenses 960 factories, provides 55,000 new jobs in 2021: Alkhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Bandar Alkhorayef, Minister of Industry and Mineral Resources, said that 960 factories were licensed in 2021, compared to 906 a year earlier. As many as 667 new plants have been also under construction this year, compared to 515 in 2020.

These positive results were driven by the coordinated effort of many authorities, signaling the success of various initiatives in the sector, Alkhorayef said during the Saudi Budget Forum 2022 held today, Dec. 13.

The industrial sector attracted new investments of over SAR 77 billion this year, compared to SAR 23 billion in 2020.

It also created 55,000 new jobs in 2021, Alkhorayef highlighted, noting that citizens had 38% of those jobs, a 20% rise compared to the sector’s current average.

The local mining sector has become very promising, especially as the new mining investment law came into effect. A total of 506 new licenses were issued, including 133 exploration permits, the minister concluded.