Saudi Arabia unveiled bold incentives on Thursday to attract foreign professionals and investors to its Special Economic Zones (SEZs). The Economic Cities and Special Zones Authority (ECZA) will offer tax exemptions, streamlined visas, and customs perks to drive high-value investments.
ECZA collaborates with the Zakat, Tax and Customs Authority (ZATCA) and the Ministry of Human Resources to cut bureaucratic hurdles. The initiative prioritizes tax breaks, financial equivalence exemptions, and faster visa processing for global talent.
Nabil Khojah, ECZA Secretary General, stressed the zones’ competitive edge: “Our partnerships ensure transparent regulations and operational efficiency. Tax exemptions and flexible labor rules make SEZs ideal for long-term investors.”
Legal Reforms Boost Dispute Resolution
A new agreement with the Ministry of Justice establishes arbitration centers in SEZs. These hubs will adopt global standards to resolve commercial disputes swiftly, boosting investor confidence.
ECZA partnered with the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) to simplify product compliance checks. Foreign businesses can now enter Saudi markets faster while meeting local quality and safety guidelines. Furthermore, ECZA upgraded its One-Stop-Shop portal to link investors with regulators seamlessly. Enhanced data-sharing across government platforms will slash licensing delays, supporting Saudi Arabia’s digital transformation goals.
Saudi Arabia’s SEZ reforms align with Vision 2030 to diversify the economy. By reducing red tape and offering financial perks, the Kingdom aims to rank among the world’s top investment destinations.
