The Secretary-General of the Economic Cities and Special Zones Authority in Saudi Arabia “ECZA”, Nabil Khoja, said that the main goal of creating special economic zones in Saudi Arabia is to encourage industries in various sectors.
Khoja explained in an interview with Al-Arabiya that the special economic zones are areas isolated from the basic economy, and they have a specific goal in creating them.
He added that these areas provide the appropriate investment environment for investors, whether the adoption of legislation or the provision of incentives for investors to establish factories and headquarters within these areas, and then activate the export operations.
Khoja said that licenses for 4 private industrial zones have been announced today, embracing basic investments at a value of 19.6 billion riyals, and additional investments have been announced for these zones.
He stated that within a short period of the Saudi Crown Prince Mohammed bin Salman’s launch of the special economic zones, additional investments worth 27 billion riyals were attracted.
He continued, “We aim for investments in private regions to reach 116 billion riyals soon.”