Food products account for 8% of total investments in industrial sector

Food products account for 8% of total investments in industrial sector

The Ministry of Industry and Mineral Resources said that the volume of investment in the food products sector; in the Kingdom amount to approximately SR87bn; around 8 percent of the total volume of investments in the industrial sector.

The ministry added that food products factories constitute 11 percent of the total number of factories in Saudi Arabia. Besides, contributing to the creation of around 82,000 job opportunities, the Saudi Press Agency reported on Monday.

A report issued by the National Center for Industrial Information showed that the number of food factories in the Kingdom stood at 1,121 in the first quarter of 2021; registering a growth of 61 percent in the number of industrial licenses issued.

The report also added that local investment in the food industry largely accounted for the majority of investments; in this sector by up to 90 percent. While the remaining 10 percent was divided among foreign and joint investments.

The report also pointed out that small and medium enterprises operating in the foodstuff industry constitute the largest part of the total number of factories in the Kingdom, accounting for a whopping 88 percent.