Industrial sector records positive figures in October, national strategy to achieve targets: Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef

The Saudi industrial sector showed positive performance in October, as 78 new licenses were issued, 60 factories began production and 2,300 Saudis were employed in national factories, according to Minister of Industry and Mineral Resources Bandar Alkhorayef.

On his Twitter account, Alkhorayef added these positive figures coincide with the launch of the National Industrial Strategy, which will help realize the Kingdom’s goals.

The Ministry of Industry and Mineral Resources licensed 78 new factories at a total investment value of SAR 635 million in October, Argaam reported.

The total number of industrial licenses issued by the Ministry year to date reached 803, while the number of existing factories reached 10,788 with investments of SAR 1.374 trillion.

Also in October, Crown Prince Mohammed bin Salman launched the National Industrial Strategy, after it was approved by the Saudi Cabinet today.