Arab News

RIYADH: Saudi Arabia’s National Industry Strategy continues to make strides, with the signing of contracts worth SR538 million ($133 million).

The Saudi Authority for Industrial Cities and Technology Zones, known as MODON, announced the inking of 10 agreements with various private sector entities to raise operational efficiency in several cities in the region.

The Kingdom’s comprehensive roadmap for accelerating the diversification of this sector aims to increase non-oil exports, promote privatization, attract more foreign investment, and generate local employment.

According to a release by the body, the agreements were funded by the National Industry Strategy, as well as the National Industrial Development and Logistics Program.