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Saudi Arabia’s industrial sector saw a significant leap in 2024 with the issuance of 1,346 new industrial licenses, reflecting the country’s strong push toward economic diversification under Vision 2030. Learn more on KSA industrial growth with J K.
The initiative is part of a wider strategy by the Saudi Ministry of Industry and Mineral Resources to attract major investment and modernize the Kingdom’s manufacturing landscape.
Massive Investment & Industrial Momentum
According to official data, the newly issued licenses led to an investment surge of over SR50 billion (approx. USD 13.3 billion). This momentum also boosted the value of private sector investments in industrial cities to an impressive SR1.9 trillion. KSA industrial growth is a great advantage for businesses too.
Saudi Arabia’s industrial workforce continues to grow, now reaching 1.09 million, with a 36% Saudization rate meaning more Saudi nationals are now part of the industrial sector than ever before.
Strategic Goals: Vision 2030 in Action
These developments align directly with the National Industrial Strategy, which aims to increase the number of factories in the Kingdom to 36,000 by 2035, including 4,000 fully automated smart facilities.
Competitive Global Positioning
Saudi Arabia climbed to 33rd place globally in the Competitive Industrial Performance Index, exceeding its 2024 target of 35th place. This global recognition is a testament to the Kingdom’s growing influence in industrial production and innovation.
Crown Prince Mohammed bin Salman emphasized the Kingdom’s readiness to become a global industrial hub, supported by its youthful talent, strategic location, abundant resources, and high-tech manufacturing capabilities.
Human Impact Behind the Numbers
Behind every new license is a story of entrepreneurs taking bold steps, engineers developing smarter production lines, and families gaining new opportunities. These licenses are not just legal permissions they are blueprints for job creation, skill development, and sustainable growth across Saudi communities.
Green manufacturing, tech-driven automation, and environmentally conscious projects are also rising. This ensures that KSA’s industrial evolution not only drives profit but also respects people and the planet.
A Promising Road Ahead
With over 1,300 industrial licenses issued and billions invested, Saudi Arabia is not just growing—it’s transforming. The coming years will be crucial as these projects move from planning to production, further enhancing the Kingdom’s role in global supply chains and export-driven manufacturing.
For investors, entrepreneurs, and businesses looking to enter the Saudi market, the message is clear: now is the time.
Published by J K Management Consultancies – Your Trusted Partner for Industrial Licensing and Business Setup in Saudi Arabia.
