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Home MIDDLE EAST Al-Jouf Oasis expects $53.3m investments in 2022, says MODON chief

Al-Jouf Oasis expects $53.3m investments in 2022, says MODON chief

RIYADH: Al-Jouf Oasis will see investments exceeding SR200 million ($53.3 million) in 2022, Khalid M. Al-Salem, CEO of the Saudi Authority for Industrial Cities and Technology Zones or MODON told Asharq TV.

Four investment contracts worth over SR15 million to localize industries in Al-Jouf were signed on Wednesday during the Investment Opportunities Forum in Al-Jouf Oasis, the Saudi Press Agency reported.

The forum was held in coordination between Al-Jouf municipality and MODON.

The oasis, which is spread across 3 million square meters, will be home to a number of manufacturing companies across several industrial sectors.

The Kingdom is establishing such industrial clusters to help spur manufacturing production, replace imports and create jobs for Saudis as it reduces economic reliance on the oil industry.

Hotel inuaguration

Al-Jouf Gov. Prince Faisal N. Abdulaziz on Wednesday inaugurated Hotel Tulip Plaza  in Sakaka. 

He said it is important to promote an environment conducive to business to create more job opportunities for the Saudi youth, the SPA reported

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