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FinancialNews
22-10-18
Saudi Arabia to set up special economic zone at airport
(MENAFN) Saudi Arabia was revealed to be in the process of creating a special economic zone (SEZ) in order to lure multinational investors.
The Saudi special economic zone (SEZ) was confirmed to be established at King Khalid International airport in Riyadh.
The Integrated Logistics Bonded Zone (ILBZ) is in line with plans to bring in more foreign investment into various Saudi sectors, such as ICT, tourism and financial services.
SAGIA governor Ibrahim Al-Omar stated: "a significant proportion of global trade passes through the region, making a logistics hub in the kingdom a natural choice for any company seeing to serve international markets."
"This ILBZ concept and regulations were developed in close collaboration with prospect anchor tenants, reflecting the new way of doing business in Saudi Arabia, where the private sector - both local and international - are considered true partners in success," the governor noted.
MENAFN2210201800450000ID1097600414
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