Saudi Arabia Ministry of Industry and Mineral Resources Releases April 2023 Monthly Bulletin to Provide Insights into The Kingdom’s Industrial and Mining Sectors

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Riyadh, Saudi Arabia – The Ministry of Industry and Mineral Resources of Saudi Arabia has launched its newest April 2023 Monthly Bulletin of Industry and Mining, geared toward offering key insights into the Kingdom’s industrial and mining sectors. The bulletin is printed month-to-month and covers the most recent developments, tendencies, and investments in these sectors, proving an important instrument for traders.

The bulletin issued by the National Industrial and Mining Information Center indicated that in the course of the interval from January to April 2023, 385 new industrial licenses have been issued with investments amounting to 14 billion riyals, whereas 314 factories began manufacturing with investments exceeding 8.105 billion riyals, enabling the sector to create greater than 29,000 job alternatives, 15,000 of these jobs being for Saudis, Indicating a complete workforce of 726,750 employees by the top of April.

In addition, the entire quantity of factories within the Kingdom on the finish of final April reached 10,873 factories, with investments amounting to 1.4 trillion riyals.

As for the mining sector, the bulletin indicated that the entire quantity of mining licenses in power within the sector till the top of April 2023 amounted to 2,336 licenses, together with: 1,454 constructing supplies quarry licenses, 634 exploration licenses, 180 exploitation and small mine licenses, 36 reconnaissance licenses, and 32 surplus mineral ores licenses.

The Monthly Bulletin of Industry and Mining is an element of Saudi Arabia’s broader business and mineral assets technique. The Kingdom has been actively diversifying its economic system and lowering its dependence on oil for income. The improvement of the economic and mining sectors is a key element of this technique, and the Ministry of Industry and Mineral Resources has been main the efforts to obtain this objective.

The Saudi Arabian authorities has been encouraging funding within the industrial and mining sectors by providing numerous incentives, together with tax exemptions, land grants, and streamlined licensing processes. The knowledge introduced within the bulletin highlights the success of these efforts, and the expansion of Saudi Arabia’s industrial and mining sectors is predicted to profit the nation’s general economic system.

The Monthly Bulletin of Industry and Mining is printed by the Ministry of Industry and Mineral Resources and is obtainable on the ministry’s web site: 

Neel Achary

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