Industrial Investments in Saudi Arabia Reach 14.4 Billion Riyals
Riyadh, Saudi Arabia — Industrial investments in Saudi Arabia soared to 14.45 billion riyals in 2023, reflecting a 63% increase from the previous year, according to the annual report from the Saudi Authority for Industrial Cities and Technology Zones (MODON). The growth aligns closely with the goals of Vision 2030 and the Kingdom’s National Industrial Strategy.
MODON attracted 891 new local and foreign investment projects. Foreign investments grew by an impressive 85% year-over-year. These gains earned MODON the distinction of being the top government agency for investment attraction under the National Industrial Development and Logistics Program (NIDLP).
Expanding Infrastructure and Investment Readiness
To support this surge, MODON expanded its developed industrial land to over 209 million square meters. The number of operational factories rose to 6,443, while the total number of facilities, including logistics and investment projects, reached 7,946. This includes 1,301 ready-built units and factories available for immediate use.
The authority also launched new industrial oases in Yanbu and Aseer Industrial City. Additionally, it completed 48 infrastructure projects worth over 1.3 billion riyals and constructed 260 ready factories across Riyadh, Jeddah, Dammam, Qassim, and Jazan. Notably, 70% of these projects were supported by private sector partners.
Driving Industrial Growth and Global Competitiveness
The rapid growth in industrial investments in Saudi Arabia reflects MODON’s commitment to creating a competitive, investor-friendly environment. These efforts position the Kingdom as both a regional industrial powerhouse and a global logistics hub.
By expanding services, building ready-made factories, and improving industrial infrastructure, MODON supports job creation, private sector growth, and long-term economic diversification. These developments reinforce Saudi Arabia’s ambition to lead in manufacturing and global supply chains under Vision 2030.
