MODON attracts investments to support food security requirements: official

Saudi Authority for Industrial Cities and Technology Zones' (MODON) logo

The Saudi Authority for Industrial Cities and Technology Zones (MODON) attracted investments to support food security requirements, Al Eqtisadiah reported, citing Qusay Al-Abdulkarim, director of marketing and corporate communications department and spokesperson at MODON.

Within five years, the authority has increased the number of food and beverage plants in its industrial cities to over 915, compared to 318 in 2016, Al-Abdulkarim said.

He also indicated that this was the result of concessional procedures and incentives provided to investors, which contributed to reducing the operational cost and the time period for the start of their production operations, resulting in a higher volume of local and global investment.