The Saudi Authority for Industrial Cities and Technology Zones (MODON) attracted qualitative industries to the Kingdom over the last year despite the coronavirus pandemic and the toll it took over world economies.
According to a report prepared by MODON and seen by Asharq Al-Awsat, the number of new quality factories in Saudi Arabia has reached 12 international and local manufacturers.
Other than US and Korean plants that opened in the Kingdom, a factory was established under a partnership with Malaysia.
The influx of factories to the Kingdom stands to prove Saudi Arabia’s pioneering role in the future of the industrial sector.
Since its establishment in 2001, MODON represents one of the most important components of the Saudi national economy.
As the economy’s industrial arm, MODON works to enhance the pace of growth of Saudi industrial cities by attracting foreign investments and bringing in modern technology.
This gives Saudi industries a competitive edge in global sectors and aligns with the goals of the Kingdom’s national transformation plan, Vision 2030.
MODON was able to attract the US-based GCPS factory to open in the 3rd Industrial City in Jeddah with an area of more than 21,000 square meters and investments exceeding SAR 150 million ($40 million). GCPS manufactures pipes of international standards and quality.
The authority also attracted the Korean “Foamtech” factory, also to Jeddah’s 3rd Industrial City.
Foamtech’s factory in Saudi Arabia occupies more than 14,000 square meters and has investments exceeding SAR 95 million ($25 million). More than 50 jobs were created.
MODON’s vision includes cultivating an intelligent industrial and technological environment that effectively enables the industry and contributes to the Saudi economy’s development.
Developing and managing industrial cities and technology zones that enable sustainable growth in an optimal economic environment is also a part of MODON’s mission.
