Saudi Arabia's Industrial Sector Sees Unprecedented Growth and Investment | Kanebridge News
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Saudi Arabia’s Industrial Sector Sees Unprecedented Growth and Investment

MODON’s 2023 report reveals Saudi Arabia’s advancements in investment, industrial infrastructure, and sustainable development.

Wed, Apr 10, 2024 4:58pmGrey Clock 2 min

The Saudi Authority for Industrial Cities and Technology Zones (MODON) announced a remarkable improvement in its 2023 annual report, underscoring the Kingdom’s strides in boosting investment, enhancing industrial infrastructure, and advocating for eco-friendly industrial progress. This aligns directly with the goals of Saudi Vision 2030.

The MODON report highlights a significant rise in overall investments, reaching SR14.45 billion ($3.9 billion) in 2023. There was a 63% jump in new investments, totaling 891 from both domestic and international sources. And remarkably, the volume of foreign investments increased by 85% compared to the previous year.

Infrastructure Development and Digitization

MODON stood out by winning the National Industrial Development and Logistics Program (NIDLP) Award for attracting the highest number of investments compared to other government bodies. It also clinched 34 awards on various levels, asserting its dominance in the fields of industrial and sustainable development.

The authority has been instrumental in expanding the developed land area within its industrial cities to over 209 million square meters, raising the number of factories to 6,443, and increasing the count of industrial, logistical, and investment facilities to 7,946. The ready-built factories in the Kingdom have also seen an increase, now totaling 1,301.

Efforts to improve services within these industrial cities have led to a 724 MVA increase in electrical capacity across several locations, and the introduction of 45,000 cubic meters of drinking water per day in Sudair City for Industry and Businesses and the Modon Oasis in Yanbu. It also launched sanitary and industrial sewage services in Sudair City and the Industrial City in Madinah, each capable of handling 15,000 cubic meters per day.

A significant part of the report was devoted to MODON’s drive for industrial transformation, launching the second phase of the National Productivity Program in line with the Future Factories Initiative. This initiative assesses and formulates transformation strategies for factories based on the international Smart Industry Readiness Index (SIRI), considering the adoption of Fourth Industrial Revolution technologies. In 2023, 239 factories were evaluated, with a goal to assess another 240 in 2024.

The report also highlighted MODON’s focus on digitization, achieving an 89.9% compliance with essential cybersecurity controls, facilitating 1.3 million data exchanges, and digitizing over 24,000 contracts. Its commitment to digital governance was evident, with an 85.77% adherence rate, showcasing its dedication to digital transformation initiatives.

Since its establishment in 2001, MODON now oversees 36 industrial cities, including six industrial oases, highlighting its expansive role across the Kingdom in managing both government and private industrial zones.



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Saudi Arabia’s 2024 Summer TOURISM Plans Unveils New Incentives and Global Attractions

“Saudi Summer is Next Door” plans to boost tourism in the Kingdom over four months across seven destinations.

Wed, May 22, 2024 4 min

Saudi Arabia has unveiled its plan to attract international tourists this summer. The strategy includes appealing visa options, complimentary airline tickets for families, a lineup of major events, and opportunities for tax-free shopping.

The initiative, organized under the guidance of Ahmed Al Khateeb, Minister of Tourism and Chairman of the Saudi Tourism Authority (STA), is named “Saudi Summer is Next Door.”

Jeddah

Extensive Summer 2024 Tourism Activities

The initiative will span four months, ending in September, and will be hosted across seven key destinations: Aseer, Al Baha, Taif, the Red Sea, Jeddah, Riyadh, and AlUla.

It features over 550 tourism products and more than 150 specially tailored offers and packages for families and various interest groups including adventure enthusiasts, luxury seekers, and cultural and heritage buffs.

The launch event of the Saudi Summer Program 2024 was attended by notable figures such as Zurab Pololikashvili, Secretary-General of the World Tourism Organization, in addition to more than 250 key partners from both public and private sectors, prominent media personalities, and influential opinion leaders.

Showcasing Global Events and Cultural Richness

This year’s program will also welcome back the Jeddah Season and introduce the Aseer Season, each filled with various activities and events for families. The Kingdom will host several significant events as part of the summer program, including the first Esports World Cup in Riyadh, an eight-week competition featuring top esports athletes, and various boxing tournaments in Riyadh and Jeddah.

During the event, Al Khateeb highlighted the latest global tourism trends, the Kingdom’s growth in the tourism sector, and the record-high tourist numbers that have propelled Saudi Arabia to the top of the UN World Tourism list and the G20 nations list.

Al Baha

Al Khateeb emphasized, “Saudi Arabia is witnessing a transformative period in tourism, driven by our vision to position the Kingdom as a premier global destination. The Saudi Summer Program 2024 is our commitment to showcasing the rich cultural heritage, natural beauty, and unparalleled hospitality that Saudi Arabia offers. “We invite local and international tourists to experience the diversity of our seven unique destinations and take advantage of the exceptional offers and packages designed to create unforgettable memories. “This initiative, supported by our strategic partnerships and groundbreaking efforts like the eVisa and increased flight connectivity, demonstrates our dedication to making Saudi Arabia more accessible and appealing to tourists worldwide. “We look forward to welcoming visitors from all corners of the globe to explore and enjoy the vibrant experiences that await them this summer.”

Zurab Pololikashvili, Secretary-General of the World Tourism Organization, also remarked, “Saudi tourism is witnessing unparalleled development at all levels, achieving great leaps in recent years, which I witnessed during my multiple visits to this hospitable country.”

Riyadh

“Saudi Arabia has global indicators related to the number of tourists, which has qualified it to top the UN World Tourism list of significant tourist destinations.”

“All of these great achievements for Saudi tourism would not have been possible without proper planning by those in charge of the sector in the Kingdom and the great potential it possesses in terms of diverse climates, stunning natural landmarks, and the generosity of Saudi people who are distinguished by their hospitality, raising the ceiling of ambitions for new achievements.”

STA CEO Fahd Hamidaddin said: “While temperatures in the region rise to high levels during summer, temperatures in the highlands of Saudi Arabia in the southern region decrease to the extent that we even witnessed snowfall in Al Soudah yesterday.” “Through the promotional campaign for the Saudi Summer Program 2024, we seek to highlight the uniqueness of our destinations and their climatic, natural, and cultural diversity, along with the exceptional events and activities happening during summer. “This year’s summer program includes more than 550 tourism products and 150 special offers designed in collaboration with STA’s partners, which include attractive offers from hotels, airlines offering free tickets for children in partnership with major travel, tourism, and aviation companies, and exceptional products in the Aseer Season and Jeddah Season like tax-free shopping offers and many new and exciting experiences such as private beaches for tourists and ladies’ beaches.”

“The campaign slogan “Saudi Summer is Next Door” embodies an open invitation to explore the magic of Saudi destinations and their diversity. This diversity is expressed with simple words that reflect the uniqueness of each destination, such as “Closer,” “Cooler,” “More Beautiful,” and “More Affordable.”

The private sector is a very important component of the success of tourism programs and initiatives, and the Saudi Tourism Authority is committed to empowering it by fostering demand for products and offers that align with the aspirations of tourists globally.

The launch of the Saudi Summer Program 2024 marks a period when visiting the Kingdom has become easier, smoother, and safer through measures such as the availability of the eVisa to citizens of 66 countries, a 20 percent reduction in eVisa prices, and a significant increase in the number of weekly flights from

Gulf cities to Saudi summer destinations, now totaling 1,100.

Residents of the GCC can also benefit from the GCC residents visa, which allows them multiple entries and a stay of up to 90 days in the Kingdom over a year. Moreover, the number of hotel rooms available to travelers is set to increase, with an additional 25,000 rooms expected to be added this year.

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