Saudi Arabia has recently decided to implement the industrial cities project in the Kingdom.
This step is aimed at accelerating the pace of benefiting from industrial activity, activating entrepreneurship, and supporting small and medium enterprises.
Meanwhile, Madinah city is expected to host 100 factories soon, in addition to the recently-launched 24 plants.
Saudi Authority for Industrial Cities and Technology Zones (Modon) has inaugurated 24 plants in 1500 square meters space in the Madinah’s industrial city.
Modon targets supporting entrepreneurs and small and medium enterprises in the region to raise the gross domestic product rate to more than 35 percent, in accordance with the goals of the Kingdom’s Vision 2030 on the national industry development program.
Head of the Industrial Committee of the Madinah Chamber Dr. Salih Farsi stressed the importance of diversifying sources of income in the Saudi economy.
He said this region has a comparative and competitive advantage that qualifies it to play a prominent role in promoting the Saudi 2030 Vision.
The Industrial Committee at the Chamber of Commerce and Industry in Madinah played a great role with Modon to reinforce this vision, Farsi noted.
He explained that the Committee has developed a methodology that comes in line with the 2030 Vision and is consistent with the Board of Directors’ 2030 strategy.
Farsi told Asharq Al-Awsat that the Committee works on supporting the added value of the development and Hajj and Umrah related industries and enhancing the supply chains to benefit from projects around Madinah city.
He pointed out that working to establish an industrial zone that serves light and transformational manufacturing industries was one of the major demands in Madinah.
The zone was approved in meetings held between the Industrial Committee in Madinah Chamber and Modon.
