Saudi Arabia issues 155 new industrial licenses in May
RIYADH — Saudi Arabia issued 155 new industrial licenses in May 2025, while 122 factories began actual production during the same month, according to the latest monthly report by the National Industrial and Mining Information Center under the Ministry of Industry and Mineral Resources.
The report, which tracks key monthly indicators in the sector, revealed that the total investment tied to the new licenses exceeded SR3.25 billion.
These upcoming industrial projects are expected to generate 2,450 job opportunities across various regions of the Kingdom.
Meanwhile, the value of investments in factories that commenced production in May reached SR930 million, with 2,329 new jobs created.
The data underscores the continued expansion of Saudi Arabia's industrial base and the accelerating pace of factories moving into operational phases.
The Kingdom has rolled out several initiatives to boost the industrial sector, notably the National Industrial Development and Logistics Program (NIDLP), aimed at transforming Saudi Arabia into a global industrial powerhouse and logistics hub by focusing on four core sectors: industry, mining, energy, and logistics.
Saudi Arabia has also launched the 'Made in Saudi' initiative to encourage both local and international consumers to buy domestically produced goods and to enhance awareness of the high quality of national products.
Additionally, the government is promoting industrial investment by offering a range of incentives and facilitations to both local and foreign investors, with the goal of increasing capital inflows and diversifying the industrial landscape.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
7 hours ago
- Saudi Gazette
Fitch affirms Saudi Arabia's A+ credit rating with stable outlook
Saudi Gazette report RIYADH — Fitch Ratings has affirmed Saudi Arabia's long-term foreign currency issuer default rating at A+ with a stable outlook, highlighting the Kingdom's strong fiscal position and continued reform momentum. In its latest report, the international rating agency said Saudi Arabia's credit rating reflects the robustness of its financial fundamentals. It noted that key indicators —such as the sovereign net foreign asset position and the debt-to-GDP ratio— are significantly stronger than the averages for countries in the "A" and even "AA" rating categories. Fitch emphasized that the Kingdom holds substantial financial reserves in the form of public sector deposits and other assets, supporting its macroeconomic stability. Looking ahead, the agency projected that Saudi Arabia's sovereign net foreign assets will remain a cornerstone of its credit strength, reaching 35.3% of GDP by figure stands well above the average for countries rated 'A,' which is just 3.1% of also pointed to the ongoing fiscal reforms undertaken by the Saudi government, aimed at improving budget flexibility and reducing dependence on oil agency said these reforms, along with a sustained rise in non-oil revenues, continue to reinforce the Kingdom's credit profile.
Saudi Gazette
11 hours ago
- Saudi Gazette
SCO media and think tank summit builds bridges to confront shared challenges
Saudi Gazette report ZHENGZHOU — The Media and Think Tank Summit of the Shanghai Cooperation Organization (SCO) opened Friday in Zhengzhou, the capital of China's Henan province, bringing together more than 400 participants from across the SCO community and beyond to foster deeper cooperation and strategic dialogue. Representatives from nearly 200 media organizations, think tanks, and government entities — including delegates from SCO member states, observer nations, dialogue partners, and international and regional organizations — attended the high-level summit. Held under the patronage of the Information Office of the State Council of the People's Republic of China, the summit is co-organized by Xinhua News Agency, the Chinese Academy of Social Sciences, and the Henan Provincial Government. During the opening ceremony, speakers underscored the critical role of media and policy institutes in addressing global and regional challenges. They emphasized the need to strengthen communication channels to promote peace, stability, and mutual understanding among SCO members. Participants highlighted the importance of building bridges through civilizational dialogue, cultural exchange, and accurate media representation—pillars that align with the SCO's core principles of justice, inclusivity, and cooperation. Throughout the summit sessions, media professionals and policy experts discussed ways to enhance the role of journalism in shaping public discourse and influencing regional decision-making. They also called for expanding partnerships between media outlets and think tanks to provide actionable policy insights and long-term strategies for shared development. The summit also showcased the expanding relevance of think tanks in analyzing global trends and helping SCO countries formulate informed and forward-looking responses to evolving challenges. On the sidelines of the summit, delegates visited key cultural and innovation sites in Zhengzhou, including the Shang Dynasty Ruins Museum, the Yutong Bus Company, and a leading AI technology firm specializing in next-generation intelligent agents. The SCO Media and Think Tank Summit concludes Saturday.
Saudi Gazette
19 hours ago
- Saudi Gazette
Over 424,000 Saudis enroll in AI training as SDAIA scales national transformation
Saudi Gazette report RIYADH — More than 424,000 Saudi citizens have enrolled in the "SAMAI" initiative — an artificial intelligence (AI) awareness and training program led by the Saudi Data and Artificial Intelligence Authority (SDAIA) — as part of the Kingdom's ambitious plan to equip 1 million Saudis with foundational AI knowledge. The initiative reflects the nation's broader efforts to build a digitally empowered society aligned with Vision 2030. SDAIA highlighted the growing global impact of data and AI technologies, which it said are driving transformative change across sectors such as education, healthcare, industry, cybersecurity, agriculture, energy, and national security. These technologies are not only enhancing productivity and innovation, but also helping solve complex developmental challenges to create a more inclusive, sustainable, and peaceful world. Since its establishment in 2019, SDAIA has become the Kingdom's national reference in the regulation and advancement of data and AI. The authority focuses on maximizing the economic value of data, ensuring ethical AI practices, and developing local capabilities through specialized courses and certifications. SDAIA also issued a comprehensive set of AI regulatory frameworks and ethical guidelines for both government entities and the public, including principles on generative AI, deepfake content, national data governance, and academic standards for AI-related disciplines. These guidelines aim to ensure safe, responsible, and culturally aligned adoption of AI technologies. To raise trust in AI systems, SDAIA launched an AI service provider certification program for the private sector. Certified providers are evaluated across five maturity levels—from 'Aware' to 'Leader'—and are granted a validity period of one year, encouraging higher quality AI applications and services. The authority further introduced a self-assessment tool on AI ethics via the National Data Governance Platform. This tool supports public and private institutions in evaluating their ethical compliance during AI development and deployment phases. In a move to address global concerns, SDAIA released a specialized report on AI bias, highlighting risks that emerge as AI adoption grows across critical sectors worldwide. The report emphasizes the need for fairness and inclusivity in algorithmic decision-making. SDAIA has also advanced personal data protection by introducing the Kingdom's 'Personal Data Protection Law,' which regulates how personal data—such as names, addresses, ID numbers, images, and financial information—is processed and shared. The law seeks to preserve privacy and prevent misuse of data in both public and private sectors. One of SDAIA's most impactful projects to date is its partnership with the Expenditure and Project Efficiency Authority, which resulted in over SR5 billion in financial impact through the 'DEEM Cloud' platform. The platform consolidated 230 data centers and now offers 49 services to more than 180 government entities. Looking ahead, AI is projected to play a major role in global employment shifts. According to the World Economic Forum's latest 'Future of Jobs' report, AI will contribute to the creation of 69 million new jobs over the coming years. Complementary research by the International Labour Organization suggests generative AI will support human roles rather than eliminate them by automating selected tasks. In terms of efficiency, consulting firms Deloitte and McKinsey estimate that generative AI can reduce operational costs by up to 30%. McKinsey's study of over 1,300 companies revealed significant cost savings in HR departments (10–37%) and profit growth in supply chain divisions, in some cases exceeding 6%.
