JEDDAH: Saudi Arabia’s Ministry of Industry and Mineral Resources has announced the launch of 103 new factories in January, marking a significant milestone for the Kingdom’s industrial sector.

These factories attracted a total investment of SR900 million ($240 million), generating approximately 1,504 new jobs and underscoring the continued growth of the country’s industrial landscape.

The announcement, made on April 8, highlights the increasing number of establishments reaching full operational capacity.

In January, the ministry also issued 63 new industrial licenses, according to the National Industrial and Mining Information Center, which operates under the ministry.

As part of its Vision 2030 initiative, Saudi Arabia is accelerating efforts to diversify its economy, with the industrial and manufacturing sectors playing a key role in reducing the country’s reliance on oil. Programs like the National Industrial Development and Logistics Program are central to the Kingdom’s strategy, aiming to establish Saudi Arabia as a leading regional hub for advanced manufacturing, with a focus on petrochemicals, mining, and renewable energy.

Saudi Arabia is set to transform its industrial landscape with plans to increase the number of factories to 36,000 by 2035, including 4,000 fully automated facilities.

This ambitious goal is part of the Kingdom’s strategy to foster a dynamic, innovation-driven industrial sector.

In January, the country’s industrial production index saw a 1.3 percent year-on-year increase, driven by continued growth in manufacturing and waste management, according to the General Authority for Statistics. The index remained stable month-on-month at 103.9, maintaining the same level as in December 2024.

The manufacturing sub-index rose by 4 percent annually, supported by a 4.3 percent increase in the production of coke and refined petroleum products, along with a 4.2 percent rise in chemicals and chemical products.

The report, which tracks key industrial indicators, showed that investments related to new industrial licenses amounted to SR1.197 billion, with these projects expected to generate over 2,500 new job opportunities across the Kingdom.

In 2023, the number of industrial units in Saudi Arabia surged by 10 percent year-on-year, reaching 11,549, according to the Ministry of Industry and Mineral Resources. Jarrah Al-Jarrah, a spokesman for the ministry, also revealed that the new industrial organizations were established with an investment totaling SR1.54 trillion.