The Saudi Authority for Industrial Cities and Technology Zones (Modon) has attracted new investments by partnering with China and Japan to provide third-party services in industrial cities, as part of Modon's strategic vision to be a preferred destination for the growth of investments and the first industrial partner.
The authority acted as a diamond sponsor of the Supply Chain and Logistics Conference hosted by Riyadh on October 22-23, under the theme "Towards a sustainable supply chain to boost the circular economy", in line with the objectives and programs of the Saudi Vision 2030 to enhance the Kingdom's position as a global logistics center and a hub for three continents.
At the conference, Modon signed three agreements with TAD Logistics to allocate land in the second industrial city in Riyadh and the second industrial city in Dammam for national investments, signed with AJ Logistics in a Saudi-Chinese partnership and Kintetsu World Express Saudi Arabia in a Saudi-Japanese partnership to allocate ready logistics units in Dammam's second industrial city.
The new agreements are in line with the objectives of the logistics hub master plan launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, in August 2023, which stipulates logistics centers in 17 industrial cities affiliated with Modon, including 11 internal distribution centers.
At its pavilion at the exhibition accompanying the conference, Modon presented its logistics services to public and private partners, and incentives offered at industrial cities in order to attract local and international industrial companies that contribute to the national economy and empower the logistics sector.
The authority has a variety of products that meet investors' needs, including land, ready units, integrated logistics, truck yards, distribution centers and self-storage.
In 2023, Modon increased its cumulative investment to over SAR400 billion, increased the number of factories to over 6,000 and increased the developed areas to over 202 million square meters in 36 industrial cities.
Since its inception, Modon has been interested in developing integrated industrial land in all regions of the Kingdom. It supervises private industrial complexes and cities, nurtures an investment system that meets the aspirations of the private sector, and empowers entrepreneurs and owners of small and medium enterprises.
