Saudi’s Modon attracts Chinese Direct Investments worth $266mln in quality, transformative industries

Saudi’s Modon attracts Chinese Direct Investments worth $266mln in quality, transformative industries

Riyadh: The Saudi Authority for Industrial Cities and Technology Zones (MODON) has attracted foreign direct investments worth SAR1 billion from Chinese companies into its industrial cities across the Kingdom of Saudi Arabia to enhance contributions to gross domestic product (GDP) and create more jobs opportunities.

MODON Vice President of Business Development, Eng. Ali Al-Omeir, explained that Chinese investments in industrial cities are highly diversified, which is in line with national targets of the Saudi Vision 2030 programs and the objectives of the National Industrial Strategy.

MODON participated with a working paper at the 10th session of the Arab-China Business Conference, held in Riyadh between June 11 and 12.