The Minister of Commerce and Industry, Dr. Tawfiq Al-Rabiah, revealed that the ministry has adopted numerous initiatives and measures aimed at developing and modernizing the sector to serve the national industry and incentivize industrialists, noting that the total area of industrial cities in the Kingdom has jumped from 40 million square meters to 182 million square meters currently, and that factory licensing procedures are now completed within 30 days.

Al-Rabiah emphasized during his remarks at a ceremony honoring a number of industry pioneers, former ministers of industry, and government officials who contributed to the development of the national industry, organized by the Industrial Committee of the Riyadh Chamber of Commerce last week, that the era of speculation on industrial land is over and that the choice is now between implementation or withdrawal. Al-Rabiah noted that the ministry has established 600 factories ready to serve industrialists.

The minister highlighted the national industry’s contribution to economic development and its achievement of the highest standards of quality and production, explaining that the sales volume of industrial companies reached 627 billion riyals, and the volume of industrial investments exceeds one trillion riyals, while employing one million workers, including more than 200,000 Saudi nationals.