Saudi Arabia launches 4 special economic zones to attract international investors

News Network
April 14, 2023

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Riyadh: Saudi Arabia has launched four special economic zones that will offer companies financial and non-financial incentives as it seeks to attract more foreign investment and position itself as a global business centre.

The aim of the new zones, which will be located in Riyadh, Jazan, Ras Al-Khair and King Abdullah Economic City, is to open up new opportunities for international investors, the Saudi Press Agency reported.

“Saudi Arabia is open for business and welcomes investors from all around the world to see first-hand the historic opportunities we have to offer,” the Crown Prince Mohammed bin Salman said.

“The new special economic zones launched today will significantly impact how business is done in the country, create tens of thousands of jobs, and contribute billions of riyals to our gross domestic product.”

The zones will take advantage of the Kingdom’s strategic location to create new hubs for businesses across key growth sectors so that they can launch and expand companies and technologies that will help shape the future, according to the SPA.

They will support existing national strategies and create new links with international frameworks, building on the competitive advantages of each region of the country to support key sectors such as logistics, advanced manufacturing, technology, and other priority sectors in the Kingdom, it added.

The benefits to companies of operating in the zones will include: competitive corporate tax rates; exemption from customs duties on imports, production inputs, machinery and raw materials; 100 percent foreign ownership of companies; and flexibility to attract and hire the best talent worldwide.

The zones will also provide tremendous opportunities for developing the local economy, generating jobs, and localizing supply chains, officials said. They are said to represent a continuation of long-running initiatives that aim to transform the Kingdom into a global investment destination and a vital hub for global supply chains, by capitalizing on its position at the heart of global trade routes.

Thanks to a detailed program of regulations and incentives, the zones will offer rewarding and attractive benefits to foreign investors, officials said. The program will also allow for the acceleration of reforms required to facilitate business in all parts of the Kingdom, they added.

The new zones build on previous free-zone initiatives in the Kingdom, including the recent launch of an integrated special zone for logistics at King Salman International Airport in Riyadh. Together, they represent the first phase of a major, long-term program designed to encourage foreign direct investment, attract the most talented professionals from around the world, and promote entrepreneurship and economic development within the Kingdom, officials said.

The zones, which will be regulated by the Economic Cities and Special Zones Authority, will provide fresh solutions to the challenges many global businesses face as they attempt to localize and strengthen supply chains, they added, and help the Kingdom take advantage of key macroeconomic shifts to create a truly differentiated business environment, activating new sectors and value chains.

Saudi Minister of Investment Khalid Al-Falih, who is the chairman of the Economic Cities and Special Zones Authority, said: “This is an exciting moment. We are proud to see the launch of these four special economic zones that offer the chance for foreign investors to have a stake in the world’s fastest growing economy.”

The Secretary-General of the authority, Mr. Nabil Khoja, added, “With hugely attractive financial incentives, world-class infrastructure, business-friendly regulations and streamlined procedures for investors, there has never been a better time to be part of Saudi Arabia’s economic success story. The zones will become engines of growth, increasing the Kingdom’s export competitiveness, attracting talent, boosting technology and improving our global links.”

Special economic zones – or SEZs – are geographically defined areas that facilitate specific economic activities, such as investment, trade and employment, by providing competitive advantages and legislative frameworks that differ from the base economy. 

The newly launched zones cover a wide range of industries:

King Abdullah Economic City (KAEC) SEZ

The premier destination for advanced manufacturing and logistics, from automobile supply chain and assembly to consumer goods, ICT to MedTech. Set in a prime location on the Red Sea, less than 90 minutes from Jeddah Airport, this 60km2 site offers unrivaled access to global trade routes through King Abdullah Port, ranked the world’s most efficient by the World Bank in 2022. Anchor investor Lucid, a leader in the global EV industry, will produce 150,000 EVs a year from its base in KAEC SEZ.

Jazan SEZ

An industrial center and key platform for trade with fast-growing markets in Africa and Asia. Jazan SEZ offers access to the largest port in the region for export of goods and import of materials, helping investors benefit from and contribute to large-scale infrastructure projects in Saudi Arabia and around the world, backed by easy access to both natural and industrial resources. Jazan is part of the Kingdom’s fertile southwestern region, providing opportunities for the manufacturing, processing and distribution of food products to cater for growing regional demand and meet food security challenges across the region.

Ras Al-Khair SEZ

A launchpad on the Arabian Gulf for leaders in the maritime industry, Ras Al-Khair SEZ is a fully integrated marine ecosystem, with a rich network of existing investors – 40% of the zone is already reserved – and myriad opportunities across shipbuilding and repair, offshore drilling and maritime value chains.

Cloud Computing SEZ, located in King Abdulaziz City for Science and Technology (KACST)

In King Abdulaziz City for Science and Technology (KACST), a new Cloud Computing SEZ will serve as  a hub for emerging and disruptive technologies. A direct manifestation of the Kingdom’s ‘Cloud First’ policy, the Cloud Computing SEZ underlines the Kingdom’s commitment to digital innovation and the fast-growing tech sector. The Zone is based around an innovative hybrid model that allows investors to establish physical data centers and cloud computing infrastructure in multiple locations within the Kingdom. 

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News Network
January 20,2026

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Iranian security and intelligence forces have captured more than 470 individuals in three provinces, identified as key figures behind the recent wave of violent unrest and terrorist activities linked to foreign-backed networks.

The Intelligence Ministry's provincial office in Khorasan Razavi announced on Monday the arrest of 192 armed terrorists, identified as the main agents behind recent riots in the region. 

According to an official statement, the detainees were involved in the killing of several security personnel and civilians, setting fire to mosques, public service facilities, and buses, as well as attacks on military and law enforcement centers.

The seized items from the group include several bulletproof vests, Kalashnikov rifles, hunting weapons, Winchester rifles, and various cold weapons such as daggers, swords, brass knuckles, tactical knives, crossbows, and chains.

Evidence indicates that some of the individuals were tied to hostile movements and terrorist organizations, with links overseas. Others were identified as members of violent criminal gangs, actively taking part in the unrest alongside their associates.

Simultaneously, in the western province of Lorestan, the IRGC announced the arrest of 134 individuals as the main leaders and influential field agents of a US-Israeli terrorist network.

The IRGC statement stated that these individuals formed terrorist cells during the recent unrest, committing "Daesh-like" acts.

They wounded security forces with firearms and cold weapons, and burned and destroyed public and private properties, including mosques, shops, banks, and private and public vehicles.

In the northwestern province of Zanjan, the police reported detaining 150 people identified as principal leaders and agents behind recent riots.

Authorities noted that these individuals were responsible for destroying public and private property and intentionally setting fire to vehicles in the province's squares.

Their crimes include shedding the blood of innocent people, destroying public and private property, attempting to enter military sites, disrupting public order, and spreading terror among citizens.

A variety of cold weapons were reportedly seized from the detainees.

What began late last month as peaceful protests over economic hardship across Iran turned violent after public statements by US and Israeli regime figures encouraged vandalism and disorder.

During the unrest, foreign-backed mercenaries rampaged through cities, killing security forces and civilians and damaging public property.

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News Network
January 20,2026

Mangaluru: In a major step towards strengthening rural innovation, the Office of the Principal Scientific Adviser (PSA) to the Government of India is supporting the establishment of RuTAGe Smart Village Centres (RSVCs) across the country through collaborations with academic institutions, civil society organisations and philanthropic partners.

As part of this national initiative, Nitte (Deemed to be University) will set up the first RSVCs in the region at Nitte GP in Udupi district and at the Nitte Health Centre, Sevanjali Trust, Farangipete, in Dakshina Kannada district. The centres will be inaugurated on January 21. In South India, the programme is being implemented by the Section Infin-8 Foundation (SI-8).

Speaking to reporters on Monday, SI-8 founder-director Vishwas US said experts from Nitte University and SI-8 would work closely with farmers, students, youth and local entrepreneurs to adapt and deploy technologies tailored to local needs.

Project head Prof Iddya Karunasagar, representing Nitte DU, said the RSVCs at Nitte and Farangipete would serve as demonstration hubs for a wide range of agriculture, energy, skill-development and assistive technologies. These include solar dryers for fruits, vegetables and crops; soil-testing solutions; power weeders and women-friendly farm tools; wind-powered devices for rural artisans; grain storage systems; grass-cutting and tree-climbing equipment; and liquid fertiliser production using cowshed waste.

SI-8 CEO Aravind C Kumar said the centres would also provide access to digital and knowledge-based platforms such as ISRO applications, government scheme portals, market linkage tools and gamified learning resources, along with assistive technologies for persons with visual impairments.

Highlighting the broader impact of the initiative, Principal Scientific Adviser Prof Ajay Kumar Sood said it demonstrated how applied research could bridge the rural–urban divide and help create self-reliant, technology-enabled villages.

The initiative has been made possible through philanthropic support from Dr NC Murthy of ACM Business Solutions, LLC, USA. Dr Sapna Poti, Director (Strategic Alliances) at the Office of the Principal Scientific Adviser, said the long-term objective is to build self-sufficient, technology-driven communities capable of generating sustainable livelihoods on their own.

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News Network
January 19,2026

New Delhi: Setting speculation to the rest, the CPI(M) has made it clear that it is open to have an electoral understanding with the Congress “to defeat” the Trinamool Congress and the BJP in West Bengal Assembly election even as it is all set to take on the grand old party in Kerala accusing it of “found wanting” in fighting the Hindutva forces.

The CPI(M) also said that it will contest the Tamil Nadu election “with DMK and its allies to defeat the BJP and its allies”, amid a section in the Congress triggering confusion about its participation in the M K Stalin-led coalition over demand over power-sharing and more seats. It is also willing to join hands with Congress and others in Assam and Puducherry to defeat the BJP.

The decisions came at a three-day meeting of the CPI(M) Central Committee in Thiruvananthapuram, which ended on Sunday after reviewing the poll preparations in the poll-bound states.

The CPI(M)'s decision came even as a section led by West Bengal Congress president Subhankar Sarkar is averse to tying up with the Left Front, claiming that their party is not benefitted by the electoral understanding. Both Congress and CPI(M)-led Left Front had electoral understanding in 2016 and 2021 Assembly elections and 2024 Lok Sabha polls.

Congress and the Left Front fought together for the first time in 2016 when Congress won 44 seats and the CPI(M) got 26. In 2021, the Left Front and the Congress drew a blank. In the 2024 Lok Sabha polls, Congress managed to win one seat while the Left did not win any. In the 2019 Lok Sabha polls, both fought against each other with Congress winning two and the Left none.

“In Bengal, the party will work for the defeat of both the TMC and the BJP, which are trying to polarise the society. We will try to rally all the forces that are ready to work against them,” the CPI(M) said in a statement without naming Congress by name. Senior leaders said there is no change in its strategy of pooling all non-BJP, non-TMC votes.

However, the party was critical of the Congress in Kerala where both will fight against each other.

The CPI(M) said it would "expose the BJP-led Union government’s denial of rightful dues to Kerala, the fiscal constraints imposed and the overall attack on federalism" as also "expose the failure of the Congress to effectively counter this attack on federalism, as the largest opposition party in the Parliament".

"The Congress, especially in Kerala, was found wanting in the fight against communal RSS-BJP, ideologically and this will also be exposed before the people," it added.

In Assam, it said, the CPI(M) will work for the mobilisation of all the anti-BJP parties and forces and defeat the rabidly communal and divisive BJP government. The Left parties are cooperating with Congress in the north-eastern state. In Puducherry, it said it will work for the defeat of the BJP alliance government.

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