Saudi Arabia intensified its industrial agenda in June through a new wave of licenses and factory launches related to Vision 2030. This drive, supported by substantial investments and job opportunities, underscores the ongoing efforts to diversify the economy. Data from the Ministry of Industry reveals the Kingdom’s progressive shift away from oil dependency. In June 2025, the issuance of 83 new industrial licenses with investments exceeding SR950 million further cements Saudi Arabia’s commitment to economic diversification. These initiatives are not just bureaucratic processes but concrete steps towards building a robust non-oil economy. The Ministry’s announcement of 58 newly licensed factories starting operations emphasizes the transition towards operational plants, job creation, and capital deployment, showcasing the country’s industrial advancement. Vision 2030, led by Crown Prince Mohammed bin Salman, positions Saudi Arabia to meet its long-term economic objectives, including enhancing quality of life, reducing oil dependency, attracting foreign investment, and driving governance reforms.
