Saudi Industrial Property Authority (Modon) met with a group of executives from the Japanese Mitsubishi Chemical Corporation on investment opportunities in the industrial sector in the Kingdom. Plans of Japanese companies to establish factories in the Kingdom were also discussed during the meeting. In addition, the meeting focused on the five points of the industrial strategy and the identification of the quality of industries that will be invested in, investment opportunities with Saudi investors and added value that can be provided in these industries by the Japanese corporation, particularly in areas of technical know-how and training. Dr. Tawfig Bin Fawzan Alrabiah, director general of Modon, described the advantages of the industrial cities of Modon and incentives it provides to become one of the competitors in attracting local and global investments, development field of industry in Saudi Arabia, provision of land and the attractive investment climate required for the establishment of industries in the industrial cities, spread across all regions of the Kingdom. The Japanese delegation expressed appreciation for the support provided by Modon and also displayed willingness to study the industrial opportunities appropriate for them to enter into. At the end of the meeting, it was decided to study these investment opportunities to achieve the strategic goal to develop industry and to upgrade it in several areas. The industrial cities experiencing many development projects, of which, development of four new industrial cities was tendered this year in Sudair, Taif, Zulfi and Al-Ha'er. Furthermore, Modon tendered rehabilitation projects for the infrastructure and operation projects of the industrial cities facilities. The tendered projects can be accessed through Modon's new look website. Modon oversees 18 industrial cities with investment estimated at SR250 billion for which, approximately 300,000 workers are employed.
