(MENAFN - Arab News) The Saudi Industrial Property Authority (MODON) will organize next Saturday the second Industrial Opportunity Forum at Sheraton Hotel in Dammam under the patronage of Minister of Commerce and Industry Tawfiq Al-Rabeeah.
The forum aims to shed light on investment opportunities and incentives offered by the government and funding bodies for investors, Acting Director General of MODON Salih bin Ibrahim Al-Rashid told Saudi Press Agency.
The forum wants to reinforce the national strategy on achieving a balanced development and sustain the natural resources in the Kingdom by maximizing their revenues for an even distribution of income sources, he said. He said the forum is intended to promote benefits that could be gained from small and medium industrial projects, which will, in turn, develop all parts of the Kingdom in a balanced way and create more job opportunities for citizens.
MODON was established in 2001 and is responsible for the development of industrial cities with integrated infrastructure and services Kingdom-wide.
The industrial cities have many economic advantages and incentives to attract industrial, technical, service, residential and commercial projects. The annual rent of the land starts from one riyal per square meter.
The government's financial bodies and banks provide loans of up to 75 percent of the capital, with an extended repayment period of up to 20 years. In addition, there are other incentives related to exports and custom duties including guaranteeing Saudi exports to international markets and providing customs duty exemptions for imported raw materials and equipment.