Saudi Arabia revealed the volume of investments in the food products industry in the Kingdom, which amounted to 87 billion riyals, about 23 billion dollars.
The Saudi Ministry of Industry and Mineral Resources said that these investments constitute 8% of the total volume of investments in the industrial sector, indicating that food products factories constitute 11% of the total number of factories in the Kingdom and contribute to providing more than 82 thousand jobs.
A report issued by the National Center for Industrial Information in Saudi Arabia indicated that food factories in Saudi Arabia, until the first quarter of 2021, amounted to 1121 factories.
The report revealed that the number of industrial licenses issued during 2020, increased by 61% during 2020, compared to 2019.
The report continued: While the activity witnessed a growth of 9% during the first quarter of this year 2021 compared to the same period last year.
3 main areas
The report indicated that the products of preservation, fruit and vegetable processing factories top the list of food-producing factories in Saudi Arabia, with about 296 factories, followed by factories for “bakery” products with 240 factories.
He added that the largest percentage of food factories are based in 3 main areas that cover local demand and are present in many regional and global markets.
The report stated that local investment in the food industry has largely accounted for 90% of investments in this sector, while the remaining 10 are divided between foreign and joint investments.
The report pointed out that small and medium-sized enterprises engaged in the production and manufacture of foodstuffs constitute the largest proportion of the total number of factories in the Kingdom, at 88%.
The report of the National Center for Industrial Information added that food product factories in Saudi Arabia produce more than 1,582 food products, while “fruit juices” are among the most exported food products, followed by dairy products, concentrated cream, bakery products, and cakes, due to the characteristics of these industries. National of high quality.
The Saudi GDP in the fourth quarter of 2020 achieved a growth of 2.5% in the fourth quarter compared to the third quarter of 2020.
The Saudi General Authority for Statistics attributed this to the growth of the oil sector by 2.6% and the non-oil sector by 2.4%.
The private sector grew by 3.2% and the government sector by 0.6%, according to this comparison.