MODON, Moscow tie-up to support entrepreneurs in industrial innovation: CEO

Majid Al-Argoubi, CEO of Saudi Authority for Industrial Cities and Technology Zones (MODON)

The partnership between the Saudi Authority for Industrial Cities and Technology Zones (MODON) and Moscow will contribute to the exchange of expertise in business models, research and manufacturing, and the creation of industrial opportunities, said CEO Majid Al-Argoubi.

In an interview with Argaam, on the sidelines of signing an agreement with the Department of Entrepreneurship and Innovation Support in the Moscow government, the top executive indicated that the partnership aims to support entrepreneurs in the fields of industrial innovation and product development, as well and in the exchange of expertise with the authorities responsible for 48 centers for entrepreneurs, research and innovation, while leveraging the capabilities available in the Kingdom to enable them to build successful business models and enterprises.

MODON oversees 39 industrial cities and 7 technological zones. There are more than 8,000 industrial and logistics facilities and data centers, of which above 85% are small and medium-sized enterprises, according to the CEO.

He added that MODON's future approach focuses on supporting entrepreneurs and youth and helping them enter the industrial field, through the incentives provided by the authority, in addition to other incentives by the Ministry of Industry and Mineral Resources, through several programs supervised by the ministry.

This is in addition to the "1K Mile" initiative within the National Industrial Development and Logistics Program (NIDLP), which all support entrepreneurs in creating job opportunities and launching several industrial projects, Al-Argoubi further stated.