Jadwa says Saudi investments in industrial sector hits a record in July

Jadwa says Saudi investments in industrial sector hits a record in July
Saudi Arabia’s industrial sector saw an increase in the total number of factories in the Kingdom with 10,138 factories as of the end of July. File
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Updated 01 September 2021

Jadwa says Saudi investments in industrial sector hits a record in July

Jadwa says Saudi investments in industrial sector hits a record in July

RIYADH: The value of licensed investments in new factories in Saudi Arabia reached a record in July after hitting SR 50 billion, with the sector adding 2,931 net new hires, Riyadh-based investment bank Jadwa said on Wednesday in its monthly report.

Saudi Arabia’s industrial sector saw an increase in the total number of factories in the Kingdom with 10,138 factories as of the end of July, 40 percent of which were in the capital Riyadh, the Ministry of Industry and Mineral Resources said.

The Kingdom’s industrial economy covers 16 strategic sectors and is distributed over 13 administrative regions throughout the country, according to the report from the ministry’s National Center for Industrial and Mining Information.

The Saudi industrial sector attracted investments worth SR70 billion ($18.7 billion) from the beginning of 2021 till the end of July, Bandar Al-Khorayef, minister of industry and mineral resources, said in a tweet last month.