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   Top Saudi Arabia Business News     

472 industrial licenses were issued for implementation of industrial projects
Riyadh, 5 December 2000

Minister of Industry and Electricity Dr Hashim Yamani said the industrial sector had witnessed new achievements in the first half of this year, 1421.

He noted that 472 industrial licenses were issued for implementation of industrial projects with an invested capital of SR12.84 billion. Dr Yamani said the licenses issued in the first half of this year showed an increase of 14.9 percent compared with the same period last year.

Moreover, he said the capital invested in industrial projects in the first half of this year increased by 75 percent compared with the same period last year. Dr Yamani reiterated the keenness of the Ministry of Industry and Electricity on extending all possible facilities to investors in the industrial sector and said in the first half of this year it allocated pieces of lands in the industrial cities of the Kingdom with an area of 860,480 square meters.

Referring to the facilities being extended by the state to investors, Dr Yamani said they include exemption from custom tariffs on the imported raw materials required for production and on machinery, equipment and spare parts. He noted that in the first half of 1420 the Ministry of Industry and Electricity received 2,360 applications; all of them were approved.

Source: SPA

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 June 28, 2001 15:42:04