Riyadh – Sharikat Mubasher: The number of industrial facilities in Saudi Arabia has recorded a growth of 60 percent since the launch of Vision 2030, reaching 11,549 in 2023 from 7,206 in 2016.
The growth is mainly attributed to the Kingdom’s vigorous efforts to accomplish the goals of the Vision in terms of diversifying the economy, creating a more sustainable future, and becoming a leading global industrial power, as per an official report issued recently.
The National Industrial Strategy, launched by Crown Prince and Prime Minister Mohammed bin Salman in October 2022, will drive growth in this vital sector to reach about 36,000 factories by 2035.
This was revealed by the National Industrial Development and Logistics Program (NIDLP) in a statement on its account on the X platform. The NIDLP represents a comprehensive initiative and its objective is to catapult Saudi Arabia into an era of economic diversification and sustainable development. The program stated that industrial facilities throughout the Kingdom contribute to advancing the Vision 2030 process to make the Kingdom a leading industrial power and a global logistics platform.
According to the report, Riyadh topped the list of administrative regions for industrial facilities until last year, with 4,502 factories, followed by the Eastern Province with 2,618 factories, while Makkah region hosts 2,209 factories. Al-Qassim region comes fourth with 546 factories, followed by Madinah with 526 factories, Asir region with 401 factories, followed by Jazan with 201 factories, Hail with 144 factories, and Tabuk with 118 factories. Al-Jouf region hosts 88 factories, while Najran region has 88 factories, and it is followed by the Northern Borders Region with 57 factories, and Al-Baha with 51 factories.
The Ministry of Industry and Mineral Resources announced a 10 percent increase in the number of existing factories, reaching 11,549 last year, with total investments estimated at about SAR 1.5 trillion ($400 billion), compared to 2022, when it reached 10,518 factories.
The number of industrial licenses issued last year accounted for 1,379, with investments amounting to more than SR81 billion ($21.6 billion), while production began in 1,058 factories during the same year with investments amounting to SAR 45 billion ($12 billion).
It is noteworthy that Saudi Arabia has become a major player worldwide in the energy, mining, industry, and logistics sectors, since the launch of the NIDLP in 2019. These sectors have contributed, through their rapid growth, to diversifying the economy, creating diverse job opportunities, and contributing to securing a sustainable future for the younger generations.
The program was launched to make the Kingdom a global logistics center with high efficiency, quality, and speed, as it invested in the country’s unique strategic location as a meeting point between three continents. It is also a global commercial center, rich in natural resources, from mining and energy, as it has all the qualifications that make it an industrial center and a logistics leader.