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MODON attracts SAR 14.4bn cumulative investments in 2023

MODON attracts SAR 14.4bn cumulative investments in 2023
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Riyadh – Mubasher: The Saudi Authority for Industrial Cities and Technology Zones (MODON) reflected progress in attracting investments, developing industrial infrastructure, and promoting sustainable industrial growth.

In line with Saudi Vision 2030, the report revealed a SAR 14.45 billion increase in cumulative investments during 2023.

New investments surged by 63%, with 891 local and foreign investments secured, while foreign investments hiked by 85% over 2022.

MODON aims to bolster the industrial environment and expand the developed land area in its industrial cities, which exceeds 209 million square metres. It completed 48 development projects at a value of SAR 1.30 billion.

The number of factories increased to 6,443, alongside 7,946 industrial, logistical, and investment facilities. Additionally, the number of ready-built factories rose to 1,301.

The authority achieved an 89.9% compliance score with basic cybersecurity controls, concluding 1.30 million data exchanges with other parties, and transferred over 24,000 contracts to its electronic system.

Established in 2001, MODON currently supervises 36 industrial cities, including six industrial oases across the Kingdom.