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) says.
The announcement was made at the Saudi Special Economic Zones Investment Forum held in the Saudi capital Riyadh last week. 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. ■
Lebanon and Saudi Arabia seek closer trade ties
Lebanese and Saudi economy ministers have recently agreed to gradually increase economic and trade exchanges, Lebanon’s National News Agency (NNA) reported. During a meeting in the Saudi port city of Jeddah last week, Lebanese Economy [Read More]
Saudi Arabia reports Q1 deficit amid increased expenditures
Saudi Arabia recorded a deficit of 2.9 billion Saudi Riyals (around 770 million U.S. dollars) in the first quarter of 2023, according to a report by the Saudi Finance Ministry. Revenues for the same period [Read More]
Syria and Saudi Arabia to resume consular services and flights
Syria and Saudi Arabia agreed in a joint statement to resume consular services and flights on Wednesday, after the bilateral ties have been stranded for years. The announcement came as Syrian Foreign Minister Faisal Mekdad [Read More]
