The Saudi Ministry of Industry and Mineral Resources has revealed that foreign and joint investments in the industrial sector have surpassed 542 billion Saudi riyals ($144.53 billion), which represents 37% of the total investment in the sector, and 17% of the total number of factories as of May 2023.
The ministry explained that the number of factories with foreign investment in the Kingdom has reached 930, representing 9% of the total number of factories, with investments exceeding 71 billion Saudi riyals.
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Meanwhile, the number of factories with joint investment reached 924 factories, making up 8% of the total number of factories, with investments estimated at over 470 billion Saudi riyals. The total number of factories in the industrial sector as of May 2023 was 10,910 factories, with investments exceeding 1.455 trillion Saudi riyals, according to the Saudi Press Agency “SPA”.
The ministry noted that the most significant foreign investment activities are concentrated in a number of major industrial activities, such as the manufacture of shaped metal products, with 156 factories, followed by the manufacture of rubber and plastic products with 106 factories, and then the manufacturing of other non-ferrous metal products with 97 factories. The chemical industry registered 78 factories for chemical products, and 73 factories for food products.
The most significant joint investment activities were in the chemical products industry, with 161 factories. This was followed closely by the manufacturing of matching metal products with 112 factories, and the manufacturing of rubber and plastic products with 83 factories. Furthermore, various other fields also registered activity, including 83 factories dedicated to metal products.
The ministry further explained that small factories represent the highest percentage of total foreign and joint investments in the sector, with 874 factories, followed by medium-sized factories with 754 factories, while large factories amounted to 225 factories.
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