Saudi Arabia on track to become ‘a leading industrial power’

RIYADH: While some economies have struggled in the face of the coronavirus disease (COVID-19) pandemic, Saudi Arabia’s licensing of over a hundred new factories is evidence of its ambition to become “a leading industrial power” in the region and the growing importance of the local industrial sector, experts told Arab News.

Saudi Arabia licensed 115 new factories worth SR1.63 billion ($430 million) in January 2021, according to data issued by the Ministry of Industry and Mineral Resources.