Investing in an LED flashlight factory project in Saudi Arabia investment opportunities in 2022. Especially in light of the Kingdom of Saudi Arabia’s Vision 2030 to advance the national economy. Strengthening the non-oil economy. and strive to occupy a prominent position among global economies. Saudi Arabia ranks eighth globally in plastics production; it owns 2% of the global polymer volume.
What are LED flashlights?
LEDs are making their way into electronics. and radiology equipment. and many medical devices. The factory offers LEDs suitable for lighting rooms and outdoor areas. Like aviation lighting. and car headlights. and billboard lighting. and traffic lights. And others. It is one of the most economical light bulbs in terms of electricity consumption. For example, if a standard tungsten filament bulb has a wattage of 25 watts. one of the LED flashlights is only 4-5 watts. Although each one produces a luminous intensity of 190 lumens.
According to International Trade Center statistics. In 2021, Saudi Arabia imported about $671.3 million worth of lighting devices. And LED flashlights. According to Mashreq, the value of Saudi Arabia’s import of LED flashlights will reach $893.51 million by 2025.
Saudi Arabia’s Industrial Sector Indicators
Saudi Arabia is developing 14 cities and industrial oases. over an area of 34 million square kilometers. Vision 2030 has contributed to the revival of industrial investment in Saudi Arabia. where industrial investment increased by the end of 2020. From SAR 955.4 billion to SAR 1.1 trillion.
Investments in the Saudi industrial sector are estimated at 1,268,037 million riyals. The number of factories in Saudi Arabia reached 10,293. of which 1,794 factories are under construction. The existing factories employ about 968,090 workers. Investment in the industrial sector is rising at a growth rate of 16%
The distribution of the number of factories in Saudi Arabia Riyadh accounted for the largest percentage (4128 factories). followed by the Eastern Province (2,248 factories). Then Makkah (1948 factories).
For more details about the latest economic indicatorsand investment opportunities in Saudi Arabia, as well as the most prominent financing entities that support successful investment projects in Saudi Arabia, you can contact the investor service team from Mashroo3k Consulting.
