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.