Economic zones are a global hub for entrepreneurship.

The Special Economic Zones Investment Forum, organized by the Special Economic Zones and Cities Authority (SEZA), in partnership with the Saudi Program for Attracting Regional Headquarters of International Companies, at the Ritz-Carlton Hotel in Riyadh, announced several privileges that enhance the attraction and encouragement of investment in special economic zones.

During the sessions, it was emphasized that the economic zones are a global hub for entrepreneurship. <During the sessions, Minister of Investment Khalid bin Abdulaziz Al-Falih emphasized that special economic zones are the cornerstone of the National Investment Strategy, the National Strategy for Industry and the National Strategy for Transportation and Logistics, noting that the new zones include the Special Economic Zone in King Abdullah Economic City: King Abdullah Economic City Special Economic Zone, Jazan Special Economic Zone, Ras Al Khair Special Economic Zone, Special Economic Zone for Cloud Computing and Informatics, in addition to the Integrated Logistics Special Zone in Riyadh, which was launched in 2022.

Falih stressed that the new zones are the cornerstone of the national investment strategy, the national strategy for industry and the national strategy for transportation and logistics. Falih stressed that the Kingdom's economic zones are part of a comprehensive approach based on initiatives that aim to strengthen its position as a leading global investment center and provide the ideal platform for companies across various sectors and industries to enhance their international operations and growth.

Falih stressed that <a style="color: #800000; For his part, Minister of Finance Mohammed bin Abdullah Al-Jadaan revealed that a 20-year tax reduction will be offered in special economic cities, in addition to a permanent exemption from VAT on transactions between entities within special zones or between different special zones.

Functions of economic zones

• Promote economic growth.
• Achieve sustainable development.
• Attract investment.
• Create jobs.
• Promote exports.
• Building productive capacity.
• Industrial upgrading and diversification.