- New Eligibility Criteria Certificates for Tharawat Alqata
Industries Company and Automotive Solution Company for Logistic
Services (MASARAT Mobility Park) to operate in KAEC Special
Economic Zone demonstrate growth in the automotive and logistics
clusters.
- Major agreement sealed with Saudi Post (SPL) that will enhance
logistics services within Special Economic Zones and create
benefits for businesses investing.
RIYADH,
Saudi Arabia, Oct. 14,
2024 /PRNewswire/ -- The Economic Cities and Special
Zones Authority (ECZA) today revealed three significant
announcements to coincide with the inaugural Global Logistics Forum
(GLF).
Reshaping the global map of logistics, GLF marked a key moment
for ECZA to award two new Eligibility Criteria Certificates, along
with the confirmation of a partnership with Saudi Post (SPL) that
will enhance logistics services for investors across Saudi Arabia's Special Economic Zones
(SEZs).
The Eligibility Criteria Certificates, which have been issued to
Tharawat Alqata Industries Company and to Automotive Solution
Company for Logistic Services (MASARAT Mobility Park) will see
both companies set up facilities in King Abdullah Economic City
Special Economic Zone (KAEC SEZ).
These certificates, and the investment they will enable,
demonstrate the continued growth of the automotive cluster in KAEC
SEZ. Investors in the cluster, a priority growth sector for ECZA
and Saudi Arabia, include leading
automotive brands such as Lucid, Ceer, Hyundai and Pirelli. It is
expected that these keystone automotive businesses will contribute
at least US$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 multiple
strategic partnerships ECZA has sealed with other public sector
entities in Saudi Arabia. The
partnership with SPL will lead to the development of a new
addressing system that will ease the conduct of business for
investors within SEZs. Additionally, the partnership will lead to
the creation of bespoke incentives for businesses in SEZs.
Commenting on these major announcements, ECZA Secretary
General, Nabil Khojah, said:
"Since the launch of the four new Special Economic Zones in
2023, ECZA has been working tirelessly to secure new investment
into the zones and to more closely integrate with our government
partners.
"The announcements ECZA has made here at the Global Logistics
Forum are demonstrations of the business and cluster transformation
ECZA is accelerating. These two new Eligibility Criteria
Certificates will bring investment into KAEC SEZ's automotive
cluster, a priority sector for ECZA and the Kingdom.
"The partnership between Saudi Post and ECZA will enhance
logistics operations within SEZs, streamlining services and
enhancing the already attractive proposition for investors looking
to do business in Saudi Arabia's
SEZs."
Saudi Arabia's SEZs, which were
launched in 2023, are strategically located, with KAEC SEZ and
Jazan SEZ along the Red Sea, and Ras Al-Khair SEZ on the Arabian
Gulf, acting as a unique gateway between three continents. This
allows companies to set up operational bases across different SEZs
in the Kingdom, facilitating resilient supply chains and access to
new markets.
ECZA continues to work to grow foreign investment into the SEZs,
contributing to the creation of A Thriving Economy, a key pillar of
Saudi Vision 2030.
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