MODON, GAMI sign deal to promote investments in Saudi military sector

Saudi troops participate in a military exercise with Egyptian forces in this file photo. Saudi Arabia has stepped up efforts to manufacture a substantial part of its military requirements. (SPA photo)
Updated 14 November 2019

MODON, GAMI sign deal to promote investments in Saudi military sector

  • Through this cooperation, the two parties will seek to guide licensed investors toward targeted fields in Saudi industrial cities

The Saudi Authority for Industrial Cities and Technology Zones (MODON) and the General Authority for Military Industries (GAMI) have announced the launch of strategic cooperation, aiming to encourage the localization of military industries in the Kingdom.

The cooperation supports the localization of 50 percent of the expenditure in military industries through Vision 2030, making it an important pillar for economic development, increasing its contribution to local products and opening job opportunities for Saudis.

Through this cooperation, the two parties will seek to guide licensed investors toward targeted fields in Saudi industrial cities affiliated with MODON, who will provide incentives to investors.

The two parties will also work on providing industrial constellations for the targeted military sectors in the industrial cities as well as options for investors to support the establishment and empowerment of the project and ensuring its expansion, sustainability and development.

GAMI Gov. Ahmed bin Abdul Aziz Al-Ohali confirmed that cooperation with MODON came in line with GAMI’s efforts to make the sector one of the main contributors to the national economy.

“This strategic cooperation will support the authority’s endeavor to empower local and international manufacturers, by providing the right investment environment to build the Kingdom’s industrial capability,” he said.

For his part, Khalid bin Mohammed Al-Salem, the director general at MODON, pointed out that cooperation with GAMI aimed at increasing the contribution of the sector to the gross domestic product, an important part of Vision 2030.

Since its inception in 2001, MODON has been interested in the development of integrated industrial land. It oversees 35 existing and under-development industrial cities in various regions of the Kingdom, in addition to its supervision of private industrial complexes. 

So far, the total area under MODON’s control exceeds 198.8 million square meters, comprising 3,474 facilities.


Fifth Jeddah International Book Fair opened by Makkah governor

Updated 12 December 2019

Fifth Jeddah International Book Fair opened by Makkah governor

JEDDAH: Prince Khalid Al-Faisal, the governor of Makkah, officially opened the fifth edition of the Jeddah International Book Fair on Wednesday.

The prince toured the event, at which 400 publishing houses from 40 countries are taking part, and honored three renowned figures from the local literature and media scenes: Dr. Hashem Abdo Hashem, the former editor in chief of Okaz newspaper; writer Abdel Fattah Abu Madian; and writer Meshaal bin Muhammad Al-Sudairy.

Prince Mishaal bin Majed, the governor of Jeddah and chairman of the exhibition’s Higher Committee, thanked Price Khalid for his support of the fair since it was founded. He also expressed his gratitude to King Salman and Crown Prince Mohammed bin Salman for their great support.

He added that the success of the event is the result of the hard work of a number of organizations. In particular, he wished the Ministry of Culture continued success in organizing the fair as part of its efforts to develop culture in the Kingdom as one of the pillars of Saudi Vision 2030.

Other VIP guests and dignitaries at the inauguration of the fair included Prince Badr bin Sultan, the deputy governor of Makkah; Prince Saud bin Abdullah, adviser to the governor of Makkah; and Prince Khalid bin Mishaal, deputy governor of Jeddah.

The book fair continues at Land of Events in South Abhur until Dec. 21.