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Saudi Arabia’s four new special economic zones (SEZs) have attracted $12.6 billion from investors across maritime, mining, manufacturing, logistics, and technology sectors, according to a statement issued by the Economic Cities and Special Zones Authority (ECZA).
Launched last month by Crown Prince Mohammed bin Salman, the new zones – King Abdullah Economic City (KAEC), Ras Al-Khair, Jazan and Cloud Computing SEZs were awarded licenses on Monday.
An additional $31 billion in investments are in progress, the statement added.
Khalid Al-Falih, Minister of Investment and Chairman of ECZA Board, said: “Our SEZs are part of a comprehensive approach, building on previous initiatives to strengthen Saudi Arabia’s standing as a premier global investment hub and provide businesses across multiple sectors and industries with a launch pad to drive their international growth.”
Nabil Khojah, Secretary General of ECZA, added that the four new SEZs have already attracted billions of Saudi riyals in investment, with more to come.
In 2022, the Ministry of Investment and the Royal Commission for Riyadh City launched a programme to attract global companies to set up regional headquarters in the Kingdom.
(Writing by D Madhura; Editing by Anoop Menon)
