MODON releases annual report for 2023; Attracts industrial investment

MODON releases annual report for 2023; Attracts industrial investment

The Saudi Authority for Industrial Cities and Technology Zones (MODON) has released its annual report for 2023, highlighting significant progress in attracting investments, developing industrial infrastructure, and promoting sustainable industrial growth. MODON, established in 2001, currently supervises 36 industrial cities, including six industrial oases, across the Kingdom. The report details a $3.8 billion (SAR14.45 billion) […]The Saudi Authority for Industrial Cities and Technology Zones (MODON) has released its annual report for 2023, highlighting significant progress in attracting investments, developing industrial infrastructure, and promoting sustainable industrial growth.

MODON, established in 2001, currently supervises 36 industrial cities, including six industrial oases, across the Kingdom.

The report details a $3.8 billion (SAR14.45 billion) increase in cumulative investments during 2023. New investments increased by 63 percent, with 891 local and foreign investments secured. Notably, foreign investments grew by 85 percent over 2022.

For successfully attracting the most investments among other government agencies, MODON earned the National Industrial Development and Logistics Program (NIDLP) Award. It received 34 other local, regional, and international awards, solidifying its leading position in industrial and sustainable development.

According to the statement, “MODON’s commitment to fostering a stimulating industrial environment is evident in the expansion of the developed land area in its industrial cities, which