Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef affirmed that the ministry seeks to build a stimulating industrial environment for small and medium enterprises, noting that small and medium factories have acquired more than 80% of the total new industrial licenses since the beginning of the current year 2021 AD.

During his meeting with a number of entrepreneurs in the Eastern Province at a meeting organized by the General Authority for Small and Medium Enterprises "Monsha'at", he explained that the industrial and mining sectors are among the main pillars to support the Kingdom's vision plans in the process of economic transformation, noting that the size of the opportunities available today in the two sectors are not limited to Large capital, but has become a major attraction for owners of small pioneering projects.

He pointed to the importance of investing in the applications of the Fourth Industrial Revolution, which will contribute significantly to changing the shape of the industrial sector, and will pave the way for future jobs based on the adoption of creative ideas and modern technology, as the ministry seeks to activate the role of small and medium enterprises and entrepreneurship through three basic roles, represented in building an environment An industrial incentive for small and medium enterprises, activating the growth of these enterprises, encouraging pioneering thought in the industrial sector, in addition to building a comprehensive system to serve entrepreneurs and those wishing to invest in industry and mining.

Regarding the recent figures recorded by the industrial sector in the Kingdom, His Excellency revealed that since the beginning of the current year 2021 AD, 670 new industrial licenses have been issued with investments amounting to more than 74 billion riyals, while 477 factories started production operations during the same period, and the sector was able to create more than 31 thousand jobs.

Al-Khorayef stressed that the industrial and mining sectors in the Kingdom are distinguished by the existence of a stimulating and enabling system that works on continuous improvement of the industrial investment environment, and pushes the economic growth mechanisms of the sector by working on the axes of continuous improvement and empowerment, which aim in its entirety to improve the investor’s experience and enable him to move forward to new horizons.