From the beginning of 2021 to the end of July, the Saudi industrial sector attracted investments of SR70 billion ($18.7 billion), according to Bandar Alkhorayef, Minister of Industry and Mineral Resources.
“This leap is a translation of the support of our wise leadership and the industrial transformation that the Kingdom is witnessing, a golden age for industry, and an important indicator that reflects the attractiveness of the sector and its ability to attract capital,” he commented.
The ministry announced in a separate statement that it had approved the construction of 48 new factories
The ministry announced in a separate statement that it had approved the construction of 48 new factories in July with a total investment of SR50 billion, bringing the total number of new industrial units operating to 78.
In July 2021, the number of Saudis and expatriates employed in the Kingdom’s industrial sector had increased by 1,101 and 1,830, respectively. The number of industrial units in the Kingdom has risen to 10,166, with investments totaling approximately SR1.3 trillion.