163 Industrial Licenses had been issued by MCI during the Last 6 Months
MCI calls on the foreign investors, in the industrial sector in the Kingdom, to get the necessary licenses that entitled them to exercise the industrial activity, so as to avoid stopping the services at their facilities. It is very important to meet the licensing requirements and to get a valid license from the General Authority for Investment, and this is the only way for practicing any industrial activity, as confirmed by MCI.
MCI announced issuing 163 industrial licenses for the foreign investors over the past six months, indicating that such licenses included several activities like: petrochemical, automotive, metal and pharmaceutical industries.
It is worth mentioning that MCI announced earlier that it is mandatory for foreign investors to get the necessary industrial licenses as from 01/07/1436 AH, corresponding to 20/04/2015 AD. MCI intends to apply the mechanism of issuing an industrial license for the national investor in the future. At that time, MCI pointed out that it would issue the industrial licenses for the foreign investors according to the mechanism applied in the national investment, adding the requirement of an investment license, issued by the General Authority for Investment, and this is a prerequisite to obtain the industrial license.
This comes as an implementation of the Cabinet Decree No. 181 dated 05/06/1434 H, which included the assertion that the General Authority for Investment should add the following clause "The licensee should contact the Ministry of Commerce and Industry for getting the industrial license for all investment licenses issued by the said Authority in the field of industry.
MCI would like to emphasize its permanent concern and interest in the application of the regulatory and control role to improve the industrial environment, and to make it free of any violation. This would contribute in attracting the commercial and industrial investments into the local market.