Riyadh, October 23, 2023, The Saudi Authority for Industrial Cities and Technology Zones (Modon) is making substantial strides in attracting fresh investments through key collaborations with China and Japan. These partnerships aim to provide third-party services within industrial cities, aligning with Modon's strategic vision of becoming a prime destination for investment growth and a leading industrial partner.
Modon played a pivotal role as a diamond sponsor of the Supply Chain and Logistics Conference held in Riyadh on October 22-23. The event centered on the theme "Towards a sustainable supply chain to boost the circular economy," in perfect harmony with the goals of Saudi Vision 2030. This ambitious agenda seeks to elevate the Kingdom's status as a global logistics hub and a crossroads for three continents.
During the conference, Modon inked three significant agreements. The first agreement with TAD Logistics involves the allocation of land in the second industrial city in Riyadh and the second industrial city in Dammam for domestic investments. Meanwhile, collaborations with AJ Logistics in a Saudi-Chinese partnership and Kintetsu World Express Saudi Arabia in a Saudi-Japanese partnership revolve around the allocation of ready logistics units within Dammam's second industrial city.
These developments align closely with the logistics hub master plan, initiated in August 2023 under the guidance of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister. The plan outlines the establishment of logistics centers in 17 industrial cities under the Modon umbrella, including 11 internal distribution centers.
At the accompanying exhibition, Modon showcased its comprehensive logistics services to both public and private sector stakeholders. These services, combined with incentives available within industrial cities, aim to attract local and international industrial firms, thereby contributing to the national economy and strengthening the logistics sector. Modon offers a diverse range of products tailored to meet the needs of investors, including land, ready units, integrated logistics solutions, truck yards, distribution centers, and self-storage facilities.
In 2023, Modon significantly boosted its cumulative investment to exceed SAR 400 billion. The number of factories under its purview has surpassed 6,000, and the developed areas now span more than 202 million square meters across 36 industrial cities.
Since its inception, Modon has demonstrated a consistent commitment to developing integrated industrial land across all regions of the Kingdom. The authority oversees private industrial complexes and cities, fosters an investment ecosystem that aligns with private sector aspirations, and empowers entrepreneurs and small and medium-sized enterprises (SMEs). These endeavors signify Modon's enduring dedication to promoting industrial growth and economic prosperity in Saudi Arabia.
