RIYADH, Saudi Arabia, Oct. 15, 2024 /PRNewswire/ — The Economic Cities and Special Zones Authority (ECZA) today announced three important announcements coinciding with the opening of the Global Logistics Forum (GLF).
- New certificates of eligibility for Tharawat Alqata Industries Company and Automotive Solution Company for Logistics Services (MASARAT Mobility Park) to operate in the KAEC Special Economic Zone show growth in the automotive and logistics clusters.
- Signed an important agreement with Saudi Post (SPL) that will improve logistics services in special economic zones and create benefits for investing companies.
The GLF, which is reshaping the global logistics map, was an important moment for the ECZA to award two new certificates for the eligibility criteria and confirm a partnership with the Saudi Post (SPL), which will provide logistics services to investors in the Saudi Arabia -Arab Special Economic Zones (SEZs).
The suitability certificates issued to Tharawat Alqata Industries Company and Automotive Solution Company for Logistic Services (MASARAT Mobility Park) provide for the establishment of both companies in the King Abdullah Economic City Special Economic Zone (KAEC SEZ).
These certificates and the investments they enable demonstrate the continued growth of the automotive cluster in the KAEC SEZ. Investors in the cluster, which represents a priority growth sector for ECZA and Saudi Arabia, include leading automotive brands such as Lucid, Ceer, Hyundai and Pirelli. These key automotive companies are expected to contribute at least $8 billion annually to Saudi Arabia’s GDP by 2034, creating thousands of jobs in the process.
ECZA’s new partnership with SPL is the first of several strategic partnerships that ECZA has entered into with other public entities in Saudi Arabia. The partnership with SPL will lead to the development of a new addressing system that will make doing business easier for investors in the special economic zones. In addition, the partnership will lead to the creation of tailored incentives for companies in the special economic zones.
On these important announcements said ECZA-Generalsekretár Nabil Khojah: „Since the launch of the four new special economic zones in 2023, ECZA has worked tirelessly to secure new investment in the zones and achieve closer collaboration with our government partners.”
“The announcements that the “What ECZA has made here at the Global Logistics Forum is a testament to the business and cluster transformation that ECZA is driving. These two new entitlement certificates will bring investment into the KAEC SEZ automotive cluster, a priority sector for ECZA and the Kingdom.”
„The partnership between Saudi Post and ECZA will improve logistical operations within the special economic zones, streamline services and further enhance the already attractive offer for investors wishing to do business in Saudi Arabia’s special economic zones.”
The Saudi Arabian special economic zones, which will become operational in 2023, are strategically located: the KAEC SEZ and the Jazan SEZ on the Red Sea and the Ras Al-Khair SEZ on the Arabian Gulf form a unique gateway between three continents. This allows companies to establish operations in various special economic zones across the Kingdom, facilitating resilient supply chains and access to new markets.
ECZA continues to advocate for foreign investment to flow into the special economic zones to help create a thriving economy, one of the key pillars of Saudi Vision 2030.