King Abdullah Economic City has been granted a license for the Special Economic Zone, the Saudi Press Agency reported.
Situated at the crossroads of global trade routes, the city enjoys direct access to all markets in the Middle East and North Africa region. Spanning a total area of 60 km², the zone will be under the direct supervision of the Special Economic Cities and Zones Authority (ECZA), SPA said Saturday.
The Special Economic Zone's strategic location facilitates the operations of various logistics services and light industries. It is a promising investment environment, offering economic incentives with globally competitive advantages, SPA said.
The zone benefits from cutting-edge infrastructure, including the King Abdullah Port, the Industrial Valley, and a modern and vibrant community. This community encompasses diverse commercial and social facilities, catering to the needs and aspirations of residents, visitors, and workers in the city.
Moreover, the Special Economic Zone focuses on economic sectors such as car manufacturing, consumables, food, medicine, logistics, and associated industries. It aims to boost domestic output, attract foreign direct investment, generate new employment opportunities, and maximize the Kingdom's exports by hosting a diverse and extensive range of industries.