The Saudi Industrial Property Authority (MODON) and the National Program for Industrial Clusters discussed with Russian Deputy Minister of Trade and Industry Vasily Osmakov, the need for continued and increased coordination and cooperation between the Kingdom and Russia in all industrial sectors, especially in the mining sector, in which the Kingdom is currently seeking to increase its participation in the national economy, as part of Saudi vision 2030.
During his visit to the headquarters of “MODON” in Riyadh, HE the Deputy Minister of Russia, within its program to identify the experience of "MODON" and "The National Program for the Development of Industrial Clusters", came across the opportunities that Russian companies may have to enter into strategic partnerships with the Saudi industrial sector, and the role that Russian expertise can play to contribute in the creation of integrated and transformational value-added industries that are globally competitive.
The minister and the accompanying delegation was briefed on the investment opportunities in “MODON” industrial cities, and the infrastructure in which to attract foreign capital and expertise; as well as the various products that “MODON” provides to industrialists, such as incubators, ready-built factories and “MODON Oases”, in addition to the economic advantages and attractive incentives for industrial, technical, service, residential, commercial and support projects, which have made “MODON” industrial cities attractive to many international brands in line with Saudi vision 2030.
The visit comes as a continuation of the trade talks between the Kingdom and Russia, which began in the Russian capital Moscow, during the first Saudi-Russian Investment Forum, during the visit of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - God save him - to Russia last October.

 Last modified 23 Apr 2019
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