Saudi Arabia’s Authority for Industrial Cities and Technology Zone recently launched capital projects worth SAR 3 billion (USD 800 million). Located in Sudair, opportunities include infrastructure, water, electricity and ready-built factories. The focus on transparency during the projects announcement and subsequent bidding will attract investors contemplating market entry in Saudi Arabia.
MODON Inaugurates Infrastructure Projects And Launches More
The Authority also signed several supporting industrial contracts in Sudair City for Industry and Business (also referred to as MODON). Accordingly, these included the inauguration of a variety of infrastructure development projects worth SAR1.8 billion (USD 470 million). The ventures included road upgrades incorporating water and sewage systems and construction of a 12,500-cubic metre water reservoir. Furthermore, the launch of the fourth phase of infrastructure development, covering 6 million square metres was announced. In addition, several construction reviews were conducted by MODON which included the ongoing 200 MVA electrical substation development. Additional progress reports were made on a project to build 44 factories and a supportive ecosystem to encourage entrepreneurship. MODON`s focus on improving its infrastructure will attract industrial investment from investors seeking market entry in Saudi Arabia.
Projects Aligned With Government National Industrial Strategy
These government projects align with the objectives of the National Industrial Strategy, which seeks to build an advanced industrial base. Further goals include strengthening national supply chains, enabling high-value-added industries and increasing the industrial sector’s contribution to gross domestic product. Additionally the government is working hard to improve the business environment with the aim of attracting entities considering market entry in Saudi Arabia.
Considering Market Entry In Saudi Arabia? Contact Soutien Group For Support!
Soutien Group is part of a network of consultants, partners and investors. Our clients are corporate, private and international with an interest in exploring new markets. We can offer expertise in Market Research and Assessment Saudi, Saudi Business Case, Saudi Business Model Development, Feasibility Study and Business Plan Saudi, Organizational and Operational Structuring Saudi, Saudi Sponsorship and Partnership, Company Formation Saudi among others.
Please click on the link to learn more about opportunities and possibilities if you are considering market entry in Saudi Arabia as well as the initiatives of Soutien Group.
