The Ministry of Commerce and Industry has urged foreign investors in the industrial sector in the Kingdom to obtain the necessary licenses that entitle them to practice the activity by the Ministry so that they are not subject to the suspension of services to their facilities, and stressed the importance of meeting the licensing requirements and obtaining a valid license from the General Investment Authority to allow practicing any industrial activity.

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The ministry revealed that 163 industrial licenses were issued to foreign investors during the past six months, indicating that the licenses included several activities, the most important of which are petrochemical, automotive, metal industries and pharmaceutical industries.

The ministry revealed that 163 industrial licenses were issued to foreign investors during the past six months.

It is noteworthy that the Ministry of Commerce and Industry announced earlier that the issuance of industrial licenses to foreign investors is mandatory starting from 1/7/1436 AH, corresponding to 20/4/2015 AD, confirming its intention to apply the mechanism of issuing the industrial license to the national investor in the future, and the Ministry indicated at the time the start of issuing industrial licenses to foreign investors according to the mechanism applied to national investment with the addition of the application for the investment license for foreign investors issued by the General Investment Authority as a prerequisite to obtain the industrial license.

This comes in implementation of Cabinet Decision No. 181 issued on 5/6/1434H, which included confirmation that SAGIA should add the phrase "the licensee must refer to the Ministry of Commerce and Industry to obtain the industrial license for all investment licenses issued by SAGIA in the industrial field."

This comes in implementation of Cabinet Decision No. 181 issued on 5/6/1434H.