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Saudi Arabia plans to launch special economic zones in 2022: Minister Says

Riyadh's King Abdulaziz Public Library organizes a meeting on "Saudi Urban Codes: Challenges and Opportunities"

The Saudi Minister of Investment, Eng. Khalid Al-Falih, said that Saudi Arabia focuses on all categories of investors, and efforts are continuing to attract major and strategic investments from abroad or from inside the kingdom.

The minister added that the Saudi government, under the directives of the Crown Prince and his vision of economic transformation and the Kingdom’s 2030 strategy, is working to balance major investments and entrepreneurship projects to complement each other.

Al-Falih stated that the Kingdom was and still is a haven for national and international investments, and no investor has regretted investing in the Saudi market.

The Minister of Investment added that the current global fluctuations as a result of supply chain problems, global trade challenges, political unrest, and the war in Eastern Europe lead to the diversion of investment destinations to other regions, including the Middle East.

The Kingdom is considered the best destination in the region due to its geographical location, strategic vision 2030, and the existing and growing economic diversification with the implementation of Vision programs, as well as logistical connectivity and special economic zones that are about to be launched, in addition to the stability of the exchange rate and the stability of the Kingdom’s credit assessment and the continuous improvement of the Kingdom’s financial position globally due to the improvement in oil prices.

Minister Khalid Al-Falih explained that all these factors make the Kingdom a partner for any global investor and make it a platform for national and global investments to be a link to the continents in terms of adding value, industry, and logistics services to deliver goods and industries from the Kingdom to the continents.

He added that global events may accelerate the achievement of the goals of the Kingdom’s Vision 2030 so that the Kingdom will be a platform for accessing global markets.

Saudi Arabia plans to establish about 5 special economic zones that provide incentives for capital owners to invest in many sectors including manufacturing, biotechnology, and cloud computing.

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