NEOM’s OXAGON, MODON signs MOU for Future Factories Program

NEOM’s OXAGON, MODON signs MOU for Future Factories Program

Saudi Arabia’s Ministry of Industry and Mineral Resources, under the guidance of His Excellency Bandar bin Ibrahim AlKhorayef, Minister for Industry and Mineral Resources, and the Saudi Authority for Industrial Cities and Technology Zones “MODON”, signed a Memorandum of Understanding (MoU) with OXAGON, home to advanced and clean industries in NEOM, to cooperate in the implementation of the “Future Factories Program.”

The program aims to build a strong technology ecosystem enabling a sustainable digital transformation of the manufacturing sector in the Kingdom, remodeling 4,000 existing factories in order to enhance the Kingdom’s competitiveness on a global scale.

A key aspect of the MoU is the development of legislation, incentives and enablers that will support the Future Factories Program to remove barriers to industrial innovation in the Kingdom. Experts from all parties will assess the industry’s readiness and explore ways to integrate advanced manufacturing technologies, such as artificial intelligence, 3D printing and the Internet of Things (IoT) into manufacturing industries.

The MoU further sets a framework for all parties to collaborate in driving a clean industry through the development and implementation of the Advanced and Clean Manufacturing Improvement Tool, which allows organizations to assess their readiness for change and move toward advanced manufacturing systems