Bandar Alkhorayef Minister of Industry and Mineral Resources and Chairman of MODON
Bandar Alkhorayef, Minister of Industry and Mineral Resources and Chairman of the Saudi Authority for Industrial Cities and Technology Zones (MODON), said that industrial cities and various entities within the industrial system are proceeding with achieving national targets by expanding partnerships with the public and private sectors.
This includes enhancing research and development mechanisms, fostering innovation, providing industrial capabilities, support programs, and financing, as well as adopting the Fourth Industrial Revolution technologies and applications.
Alkhorayef added that this effort aims to enhance industrial productivity in 12 promising sectors that contribute to meeting national needs. It also supports the national export system, local content, and its tools to maximize returns from government procurements, the state-owned SPA reported. Additionally, the initiative aims to attract and engage new domestic and foreign investments.
The Ministry of Industry and Mineral Resources will collaborate with Aseer Development Authority (ASDA) to enhance industrial development in the region. Development projects related to the region’s strategy will be aligned with the targets of the national industrial strategy, attracting investments and localizing industries, as per the region’s strategic goals, with active participation from the private sector due to its crucial and enabling role, the minister added.
The ministry worked on over 100 enablers for industrial investors in the last few years, addressing aspects such as exports, “Made in Saudi Arabia,” local content, protection from unfair competition, training and qualification, and other important aspects. These are essential for industrialists to enhance their operations and find solutions to challenges, enabling greater growth.
Regarding the focus on small and medium-sized enterprises (SMEs) and entrepreneurs, Alkhorayef noted that the government has a comprehensive interest in this segment of industrialists. He pointed out that industrial cities provide ready-made factory products, which are important for small investors to start their projects and accelerate the production process. This product has had a significant impact on enhancing supply chains during the global pandemic, especially in the food and pharmaceutical sectors. There is also a project to implement 40 ready-made factories in the first industrial city in Aseer.
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