The Ministry of Industry and Mineral Resources plans to transition 4,000 factories from heavy reliance on expatriate labor to digital automation within five years, according to a plan developed by the ministry.

On this occasion, Minister of Industry and Mineral Resources Bandar Al-Khuraif explained that the ministry seeks to build an industrial environment that stimulates small and medium-sized enterprises, noting that small and medium-sized factories have accounted for more than 80% of all new industrial licenses since the beginning of this year.

Al-Khuraif highlighted the importance of investing in Fourth Industrial Revolution applications, which will significantly contribute to transforming the industrial sector and pave the way for future jobs based on the adoption of creative ideas and modern technology, as the Ministry seeks to activate the role of small and medium-sized enterprises and entrepreneurship through three key pillars: building an industrial environment that stimulates small and medium-sized enterprises, stimulating the growth of these enterprises, and encouraging entrepreneurial thinking in the industrial sector, as well as building a comprehensive ecosystem to serve entrepreneurs and those wishing to invest in industry and mining.

Furthermore, the value of operating factories in the Kingdom reached approximately 1.27 trillion riyals by the end of the third quarter of 2021, while the number of operating factories reached approximately 8,391, and the workforce in these factories is estimated at 968,121 workers, according to statistics from the National Center for Industrial Information.

The statistics indicated that 60.31% of the factories" capital consists of domestic investments totaling 763.15 billion riyals, and 34.91% consists of joint investments, while foreign investments amounted to 4.8%, bringing the total investment in factories to approximately 1.27 trillion riyals.

»Medium-sized" factories were the most numerous among other types, with 3,907 factories, followed by small factories with 3,671 factories, followed by large factories with 813. The number of licensed workers in large factories was 477,425, followed by 379,342 workers in medium-sized factories.