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Saudi Modon attracts US$266m Chinese investments

by WAYA Staff - Jun 14, 2023
Saudi Modon attracts US$266m Chinese investments

The Saudi Authority for Industrial Cities and Technology Zones (Modon) has attracted foreign direct investments worth US$266 million from Chinese companies in industrial cities across the kingdom with focus on quality, transformative industries, said a top official.

This will help boost its contributions to the kingdom’s gross domestic product (GDP) and also create more jobs opportunities, remarked Vice President of Business Development Engineer Ali Al Omeir.

The statement was announced on the sidelines of the 10th session of the Arab-China Business Conference which concluded on June 12 in Riyadh. 

“The Chinese investments in industrial cities are highly diversified, which is in line with national targets of the Saudi Vision 2030 programs and the objectives of the National Industrial Strategy,” he added.

The company has been developing 36 industrial lands with integrated services across Saudi Arabia since 2001. 

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