More than 6,700 new jobs were created in Saudi Arabia’s industrial sector last month, with 4,320 vacancies filled by locals, according to new figures.
The kingdom’s Ministry of Industry and Mineral Resources has revealed that 59 industrial licences were issued in May, with a capital of SR532 million ($141.8 million).
Its monthly industrial report, issued by the National Centre for Industrial Information, indicated that the national investment constituted 97 percent of the newly licensed industrial ventures.
Data also showed that small-sized factories constituted around 75 percent of the licences granted while 22 were for factories established in Riyadh and 12 in Eastern regions.
Seventeen percent of the newly issued licences were granted to food manufacturers, added the report which was cited on Thursday by Saudi Press Agency.
As for job creation, the industrial sector created around 6,753 job opportunities with the number of jobs allocated to Saudis during May reaching 4,320.
The report stated that a total of 33 factories began production in May with a capital of SR1.2 billion while the number of operating industrial facilities has reached 10,070 by the end of May with a total volume of investments exceeding SR1.1 trillion.
The latest figures come after Saudi Arabia’s total exports registered a double-digit increase in the first quarter of 2021 compared to the year-earlier period.
Exports rose by 10.8 percent to SR212.4 billion in Q1, driven mainly by exporting oil to overseas markets, which rose by 6.6 percent compared to Q1 2020.
The figures come a few weeks after Saudi Arabia launched a major new trade initiative aimed at pushing homegrown products to both domestic and international markets.
The Made in Saudi campaign aims to support national products and services at local and international levels.
The Made in Saudi program is a main driver to realise the economic goals of the Saudi Vision 2030 that aims at diversifying income resources of the national economy.
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