The Kingdom of Saudi Arabia is witnessing significant developments in its business and economic sectors. Economic cities and special zones have been established with the purpose of enhancing economic development, attracting investments, and diversifying sources of income. Economic cities and special zones serve as specialized and organized environments providing exceptional advantages for companies and investors.
These cities and special zones are characterized by advanced infrastructure and services, making them well-equipped sites for establishing companies and executing large-scale projects. King Abdullah Economic City in both the western and eastern regions, and Knowledge Economic City in Al Madinah are among the prominent examples of economic cities in Saudi Arabia. These cities encompass several vital sectors such as industry, financial services, technology, and tourism.
As for the special zones, they are designated areas with flexible economic legislations and laws offering investment flexibility and streamlined business procedures. among the zones' advantages are tax exemptions and simplified administrative measures. Examples of special economic zones in Saudi Arabia include the special economic zone of King Abdullah Economic City, Ras Al Khair Special Economic Zone, Jazan Economic City Special Zone, and the Cloud Computing and Information Technology Special Economic Zone.
These initiatives reflect the Kingdom's commitment to achieving its Vision 2030, which aims to transform the Saudi economy, achieve sustainable development, and promote economic diversification. These cities and special zones will contribute to attracting more investments and enhancing the Kingdom's position as a significant business destination regionally and globally.
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