CAIRO: Saudi Arabia has allocated an independent annual budget to the Economic Cities and Zones Authority (ECZA), to transform the Kingdom into a global hub for high-value, long-term investments.

The independent budget will allow ECZA to enjoy flexibility and powers that enable it to carry out its tasks, Sharq Al Awsat has reported.

The authority had also signed with the Industrial Fund and Emaar the Economic City, a tripartite cooperation agreement to activate the industrial and logistical integration initiative.

It will complete the development of the “Land and Loan” program to attract investments for the city’s logistics sector.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.