https://arab.news/5p5an
RIYADH: Saudi Arabia’s southwestern region is set to attract huge investments after the launch of a second industrial city in Asir.
Inaugurated by Asir Region Gov. Prince Turki bin Talal on Dec. 20, the development will span an estimated 17.3 million sq. meters, reported the Saudi Press Agency.
Prince Turki, who is also the chairman of the Asir Development Authority, applauded the industrial development efforts as they play a vital role in the Kingdom’s non-oil gross domestic product.
He also thanked the Saudi leadership for this launch, which provided jobs to thousands of people in the region and aligned with the Qimam and Shem strategy’s objectives to establish Asir as a global tourist destination.
The strategy aims to achieve comprehensive development by pumping SR50 billion ($13.3 billion) into financing vital projects and developing tourist attractions.
The launch occurred in the presence of Saudi Industry and Mineral Resources Bandar Alkhorayef, Majed Rafed Al-Argoubi, CEO of the Saudi Authority for Industrial Cities and Technology Zones, also known as MODON.
Hashim Al-Dabbagh, the acting CEO of the ADA, was also present at the event.
“Our country has great potential, and the industrial and mining sectors aspire to a distinct competitive reality that we seek to achieve and an attractive investment climate for various economic activities,” the SPA quoted Alkhorayef as saying.
Asir’s first industrial city, managed by MODON, reached an occupancy rate of over 95 percent by the end of 2023.
Covering an area of 2.7 million sq. meters, it offers various industrial services, diverse product offerings and integrated development plans.
The city has attracted national and international companies to launch their projects and issued 178 contracts, drawing investments of about SR2 billion and employing a workforce of over 31,100 individuals.
Saudi Arabia has been committed to supporting the industrial sector in the region through a strategic approach, including incentives, facilities and relative advantages.
These efforts are aligned with the Saudi Vision 2030, which aims to achieve comprehensive economic development and promote domestic industries.
MODON oversees a network of 36 cities spread across the Kingdom, encompassing industrial and logistical assets considered among the world’s largest.
The city authority has developed over 208 million sq. meters with over 6,300 factories, boosting the Kingdom’s industrial growth and economic diversification.