Saudi Arabia has launched four new special economic zones (SEZs) aimed at attracting more investment and positioning the country as a global business hub. The SEZs, which are strategically located across Saudi Arabia, are King Abdullah Economic City (KAEC), Jazan, Ras Al Khair and Cloud Computing. KAEC will focus on advanced manufacturing and logistics, Jazan will serve as a platform for trade with fast-growing markets in Africa and Asia, Ras Al-Khair will offer opportunities in shipbuilding, offshore drilling and maritime value chains, and Cloud Computing will be a hub for emerging and disruptive technologies.
The economic zones are expected to accelerate growth, increase export competitiveness, attract talent and improve the country’s global links. The programme, which supports Vision 2030, offers financial incentives, world-class infrastructure, business-friendly regulations and streamlined procedures for investors. Saudi Arabia’s gross domestic product (GDP) expanded by 8.7% in 2022, the highest among G20 countries.