Despite coronavirus, KSA attracts new quality industries
Saudi Arabia has attracted new quality industries during the past year, despite the Corona crisis, which affected all economic activities globally.
A report issued by the Saudi Authority for Industrial Cities and Technology Zones “Modon” showed the arrival of 12 new quality factories.
It includes high quality local factories, American and Korean international factories, and a Malaysian partnership factory.
The Saudi Authority is one of the most important components of the national economy, which promotes its growth in implementation of the directions of the Kingdom’s government towards establishing industrial cities and providing and attracting foreign investments to industries.
MODON was able to attract the American GCPS factory in the Third Industrial City in Jeddah, with an area of more than 21,000 square meters and investments exceeding 150 million riyals ($40 million).
The authority attracted the Korean “foamtech” factory in the Third Industrial City in Jeddah, with an area of more than 14,000 square meters, with investments exceeding 95 million riyals (25 million dollars) and more than 50 jobs.
The Arabian Sea Fish Company established a factory with an area of 85,000 square meters in the Jazan Industrial City (the first factory to localize the tuna industry and production in the Kingdom) with investments exceeding 250 million riyals ($66 million) and creating 200 jobs.
In Sudair City for Industry and Business, north of Riyadh, “Creativity Path” factories were established with an investment value of more than 103 million riyals ($27 million).
MODON is working to develop and manage industrial cities with sustainable growth and an economic environment through national expertise and high-level logistical capabilities that support opportunities to attract investments.
