SAUDI ARABIA

Investment' volume in food industry is more than SR94 billion in KSA

December 03, 2022
The volume of investment in the food industry in Saudi Arabia amounted to more than SR94 billion, which constitutes 7% of the total volume of investments in the industrial sector.
The volume of investment in the food industry in Saudi Arabia amounted to more than SR94 billion, which constitutes 7% of the total volume of investments in the industrial sector.

Saudi Gazette report

RIYADH — The volume of investment in the food industry in Saudi Arabia amounted to more than SR94 billion, which constitutes 7% of the total volume of investments in the industrial sector, the Ministry of Industry and Mineral Resources revealed to Al-Eqtisadiah.

The ministry stressed that the food product factories constitute 11.35% of the total factories in the Kingdom. Till August of this year, the number of food product factories reached 1,294, compared to 2021 when there were 1,201 factories.

With regard to license, the ministry noted that the number of industrial license issued for the food sector in 2022 until the month of August reached 163 licenses, while 287 licenses were issued in 2021.

Bread, pies and cakes factories have topped the list of food-producing factories in the Kingdom, while the number of workers in the sector reached 148,981 of licensed men and women workers.

The ministry indicated that the industrial sector is distinguished with distinct capabilities in many activities, this specially in the field of food products industry, and most notably in the sectors of dairy, poultry, oils, dates, baked goods and many more others.

The huge capabilities in this sector has contributed greatly to these products to reach different regions in Saudi Arabia, in addition to contributing to their export to the regional and international markets.

The ministry pays great attention to the food sector, which has recorded a significant growth since the beginning of 2022. This proves the importance of continuing increasing the investment rate in that sector to achieve food security for Saudi Arabia, and also to provide the needs of Saudi citizens and residents.

During the visit, they reviewed a number of experiences, possible opportunities and supporting the work carried out by the Ministry with these exceptional applications that fulfill the requirements of the national vision of working on the quality of services and projects. — SPA


December 03, 2022
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