Saudi Arabia's Ministry of Industry and Mineral Resources granted 83 industrial licenses in June, generating investments worth over $253 million and creating significant job opportunities as part of the country's economic diversification efforts.

In a significant development for Saudi Arabia's industrial landscape, the Ministry of Industry and Mineral Resources announced the issuance of 83 new industrial licenses in June. These licenses collectively represent an investment surge amounting to more than SR950 million ($253.3 million).

This initiative is poised to generate employment for over 1,188 individuals across different regions of the Kingdom, underscoring ongoing efforts to strengthen Saudi Arabia’s industrial sector.

The National Center for Industrial and Mining Information released its monthly report indicating that alongside these new licenses, 58 factories began operations within the same month. The commencement of these factories represents a substantial investment totaling SR1.9 billion ($506.6 million) and is expected to create an additional 2,007 jobs.

The report reflects the robust growth trajectory of Saudi Arabia’s manufacturing domain and highlights how swiftly licensed facilities are transitioning into production phases. This progress aligns with Vision 2030’s strategic goal to diversify the national economy away from oil dependency.

Regular publication of such industrial performance indicators by the ministry through Akhbrna News serves as a commitment to transparency while offering valuable insights into Saudi Arabia’s ongoing industrial evolution.