Saudi Industrial Property Authority (Modon) has launched its new strategy and identity under the patronage of Minister of Energy, Industry and Mineral Resources Engineer Khaled bin Abdulaziz Al-Falih.

The event took place in the presence of a number of high-ranking officials, industrialists and media personnel, said the Saudi Press Agency (SPA) report.

Al-Falih stressed that the launch of Modon's new strategy and identity represents an important initiative and step that enhances its responsibility as one of the pillars of national industry empowerment and supports the country's continuous plans to improve the industrial sector and diversify its sources of income and more services and products under a new vision with innovative solutions and smoother dealings.

He said that Modon’s strategy and new identity are in line with the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers and Minister of Defense.

Al-Falih noted that Modon’s extensive efforts with various other government entities in recent years have contributed significantly to the remarkable demand witnessed by the kingdom today for the industrial investment, noting its success in marketing and highlighting advantages and incentives that characterise its industrial cities.