Saudi Arabia: Special Economic Zones Centre to be Established

Saudi Arabia News developments

Saudi Arabia: Special Economic Zones Centre to be Established

Arab News, 6 November 2023: Saudi Arabia’s Royal Commission for Riyadh City has announced it is going to establish a Special Economic Zones Centre.

The Centre will help the Commission oversee the special economic zones in Riyadh City.

It will have its own financial and administrative independence, which will allow it to develop new economic zones in Riyadh.

It will be responsible for granting licences to investors in these zones and will offer comprehensive services based on international best practices.

This will facilitate the recruitment of national and international talent and expertise to work with the new businesses and firms in the Centre.

It will also support Riyadh’s transformation into one of the world’s largest city economies. It will do this by creating a competitive regulatory environment for a broad range of economic activities.

It is being established in line with national economic diversification goals.

The Centre will cooperate with the Royal Commission for Cities and Special Economic Zones to develop strategies for the economic areas.

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Tanya Jain