Riyadh, April 08, 2024, The Saudi Authority for Industrial Cities and Technology Zones (MODON) recently published its annual report for 2023, highlighting remarkable progress in various areas aligned with the goals of Saudi Vision 2030. The report underscores MODON's efforts in attracting investments, developing industrial infrastructure, and fostering sustainable industrial growth.
Key highlights from the report include:
1. Investment Growth: The cumulative investments saw an impressive SAR14.45 billion increase in 2023. New investments surged by 63%, with 891 local and foreign investments secured. Foreign investments notably grew by 85% compared to 2022.
2. Recognition and Awards: MODON's success in attracting investments earned it the prestigious National Industrial Development and Logistics Program (NIDLP) Award. Additionally, the authority received 34 other local, regional, and international awards, solidifying its leading role in industrial and sustainable development.
3. Industrial Infrastructure Development: MODON's commitment to creating a conducive industrial environment is evident in the expansion of the developed land area to over 209 million square meters. The number of factories increased to 6,443, alongside 7,946 industrial, logistical, and investment facilities. The number of ready-built factories also rose to 1,301.
4. Model Industrial Cities: MODON launched the MODON Oasis in Yanbu and the Industrial City in Asir, showcasing its dedication to developing model industrial cities and an attractive investment climate.
5. Infrastructure Enhancements: The report details significant enhancements in services across industrial cities, including increased electrical capacity, additional drinking water supply, and the launch of sanitary and industrial sewage services.
6. Industrial Transformation: MODON initiated the second phase of the National Productivity Program aligned with the Future Factories Initiative. This program evaluates factories using international standards to assess their adoption of Fourth Industrial Revolution applications.
7. Digitalization: MODON's digital transformation efforts are highlighted by its high compliance with cybersecurity controls, data exchanges, electronic contract transfers, and adherence to digital governance standards.
Established in 2001, MODON oversees 36 industrial cities and six industrial oases across the Kingdom, alongside private industrial complexes and cities. The authority's comprehensive approach and achievements underscore its pivotal role in advancing industrialization and economic development in Saudi Arabia.
