Saudi Special Economic Zones attract 12.6-bln-USD investment

By Elydf
  • World
  • Tuesday, 30 May 2023

RIYADH, May 29 (Xinhua) -- The four new Special Economic Zones (SEZs) across Saudi Arabia have attracted 12.6 billion U.S. dollars of investment, the Saudi Economic Cities and Special Zones Authority (ECZA) announced on Monday.

The announcement was made at the Saudi Special Economic Zones Investment Forum held in the Saudi capital Riyadh on Monday. The forum was attended by Saudi ministers, industry leaders, policymakers, international investors, and representatives from the business community.

Investors from the sectors of maritime, mining, manufacturing and logistics, and technology contributed to the investment. An additional 31 billion U.S. dollars in investments are in progress, according to the ECZA.

Nabil Khojah, ECZA's secretary general, said more investment would be injected into the SEZs after early investment.

The King Abdullah Economic City SEZ, Ras Al-Khair SEZ, Jazan SEZ, and Cloud Computing SEZ were launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud last month.

Together, the four SEZs represent the initial phase of a significant long-term program of SEZs.

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