SAUDI GOVERNMENT TAKES THE LEAD IN INDUSTRIAL EXPANSION
With over 19 industrial cities progressing in top-gear and the government providing all possible support and guidance, the Kingdom’s industrial revolution shows an accelerated growth.
MODON (Saudi Industrial Property Authority) currently overseas 29 existing or under developed cities, and is targeting growth to more than 40 by 2015.
Metal and steel are the focus of the industries for moulds and machine parts, fabrication, in addition to food processing, packaging and many more making it a buoyant market for international suppliers of machinery and equipment.
INDUSTRIAL DIVERSIFICATION GAINS MOMENTUM
With forecasts for non-oil based industrial sector growth showing a 5.4% increase and the lead being taken by private sector focusing on construction, trade and manufacturing the industrial momentum is forging ahead with confidence.
In line with this initiative the Saudi Industrial Development Fund (SIDF) has recently approved 19 loans valued at US$ 750 million for 15 new industrial projects and the expansion of 4 projects.
The expansion of the industries continues leading to simultaneous increase in the demand for new machinery, equipment, transfer of technology from leading industrial countries.
MACHINEX ARABIA – THE PLATFORM FOR ESTABLISHING NEW INDUSTRIES
The fifth edition of MACHINEX ARABIA opens opportunities with new machinery, equipment, products and services from leading industrial countries.
These positive indicators are complemented by government agencies like MODON, SIDF and other government agencies providing low tariffs, incentives, industrial land and other benefits encouraging the establishment of factory plants and manufacturing units.
With its undisputed position as the commercial hub of various industries, Jeddah is the city to host this major industrial exhibition, providing the enterprising business community of the entire Western Region of the Kingdom investment opportunities through interaction with their international counterparts.