The Director of the Business Development Department at MODON revealed that the growth rate of the number of industrial cities annually in the Kingdom has increased from one every two and a half years to an average of 3. The Director of Business Development Department at MODON, Engineer Tariq Al-Shaheeb, revealed that the growth rate of the number of industrial cities annually in the Kingdom has increased from one industrial city every two and a half years to an average of three industrial cities annually, after MODON took over the development of the industrial sector.
Modon's Director of Business Development Department, Engineer Tariq Al-Shaheeb, revealed that the number of industrial cities annually in the Kingdom has increased to reach an average of three industrial cities annually. During his participation in the Saudi-French Business Opportunities Forum, held at the Ritz-Carlton Hotel in Riyadh, Al-Shuhayeb said that MODON is developing about 20 million m2 annually until the total amount developed until the end of 2014 reached about 178 million m2 of industrial land, pointing out that more than 500 factories are established annually, and the total is expected to reach more than 5900 factories by the end of the current year.
He revealed that the total number of factories in the Kingdom has increased to one industrial city every year until it reached an average of 3 industrial cities annually. He revealed that about 59% of the factories operating in the Kingdom are located in the industrial cities supervised by MODON, including the most important international brands and major industrial companies in the Kingdom, pointing out that every one riyal invested by MODON in the development of industrial cities returns the equivalent of 50 riyals, indicating that every billion invested by MODON in infrastructure projects created more than 8,700 jobs for Saudis.
Modon's Director of the Industrial Development Department reviewed the development of the industrial cities, noting that each billion invested by MODON in infrastructure projects created more than 8700 jobs for Saudis. The Director of the Business Development Department also reviewed a package of incentives offered by MODON in supporting entrepreneurs, including products that will enhance entrepreneurial opportunities among young men and women, pointing out that ready-made factories and MODON oases, in addition to the industrial incubators offered by MODON starting from 200 m2, are an ideal product to support small investors in their beginnings.
It is worth mentioning that MODON's investment in the development of industrial cities is worth 50 riyals.
It is worth mentioning that the number of industrial cities supervised by MODON has doubled significantly over the past few years, as the number of these cities grew in 7 years by 145%, as there were only 14 industrial cities in 2007, while it reached 34 industrial cities by the end of 2014, making it the largest developer of industrial cities in the Kingdom.
The number of industrial cities supervised by MODON has increased significantly over the past few years, as the number of these cities grew in 7 years by 145%.
