The Director of Marketing and Public Relations at the Saudi Authority for Industrial Cities and Technology Zones “MODON,” Sami bin Ibrahim Al-Husseini, revealed that the area of developed land increased from 40 million square meters in 2007 to 178 million square meters in 2014, an increase of 3,45%, noting that the number of operational factories and those under construction rose from 1,950 in 2007 to 5,600 in 2014, an increase of 1,78%. Al-Husseini noted that industrial investors in the Kingdom now have access to numerous facilities and opportunities within a system of incentives and support, as “MODON” has established 34 industrial cities across various regions of the Kingdom.
Al-Husseini praised the recent royal decrees, which included transferring the Saudi Industrial Development Fund to the Ministry of Commerce and Industry. This has consolidated the regulatory authority for industrialists by streamlining licensing procedures under a single umbrella—from obtaining an industrial license, to securing industrial land and industrial loans—a move that will bolster efforts to localize industry in the Kingdom.
Al-Hussein said: “MODON has not limited itself to providing developed industrial land, but has moved to provide factory buildings that meet model specifications “turnkey factories” ranging in size from 450 m² to 1,500 m², while also providing investment opportunities that support industry, such as service projects, In this way, “Madin” has created numerous investment opportunities across all regions of the Kingdom, thereby strengthening its role in achieving balanced regional development.“
It is worth noting that, through the Saudi Authority for Industrial and Technology Cities (MODON), the Kingdom offers a package of benefits, incentives, and various facilities to create a suitable environment for industrial investments, Among the most important of these are the provision of preferential rates for industrial land, with annual rents starting at one riyal per square meter—the lowest in the region— as well as industrial loans of up to 75% of capital with repayment terms of up to 20 years, competitive rates for electricity, water, and fuel services, and customs exemptions for raw materials and machinery, in addition to priority in government procurement contracts for locally manufactured goods, and programs and incentives to support the training and employment of Saudis, with the government covering training costs and salaries of up to 50% for several years.
