Al-Falih: Saudi Arabia to establish 20 new special economic zones

Al-Falih: Saudi Arabia to establish 20 new special economic zones

RIYADH — Minister of Investment Khaled Al-Falih said that Saudi Arabia is working to establish 20 new special economic zones, of which six will be in the capital city of Riyadh, in addition to financial centers to host international companies.Taking part in the second-day session of the Future Investment Initiative conference here on Thursday, he said that there will be zones designated for quality digital and logistical investments.“One of the first of these zones will be at King Khalid International Airport, and other zones will also be launched soon,” he said.Regarding the financing of the zones, Al-Falih said that there will be financing from the Public Investment Fund and foreign investments from countries such as India, in addition to the strong financial sector of Saudi Arabia.The minister stated that the investment environment to enable the development of Riyadh includes unparalleled legislative and regulatory reform measures, making it investor-friendly by reducing risks, facilitating procedures, and making doing business easy in Saudi Arabia, the most competitive in the world.