Riyadh - Sharikat Mubasher: The total investment volume in existing factories in Saudi Arabia reached SAR 1.5 trillion by the end of 2023, recent figures by the Ministry of Industry and Mineral Resources showed.

The Key Industrial Indicators for 2023 revealed that the number of existing factories reached 11,549 in 2023, marking a 10% rise from 10,518 in 2022.

In 2023, the ministry issued 1,379 new licenses with investments amounting to SAR 82 billion, while the number of factories that started production in 2023 touched 1,058.

Furthermore, small-sized enterprises seized the lion’s share of 1,203 issued licenses, followed by medium enterprises that obtained 158 licenses.

The report stated that the Riyadh Province seized 479 licenses, followed by the Eastern Province which seized 340 licenses, and Makkah Province which obtained 269 licenses. Al Qassim Province and Al Madinah Province obtained 87 and 79 licenses, respectively.