Riyadh – Mubasher: Saudi Arabia has unveiled plans to build a special economic zone (SEZ) at King Khalid International airport (KKIA) to attract further foreign investors.
The SEZ will focus on investing in the logistics sector, along with setting up an integrated logistics bonded zone (ILBZ) that will be built for this purpose, according to the Saudi Press Agency (SPA).
“A significant proportion of global trade passes through the region, making a logistics hub in the kingdom a natural choice for any company seeing to serve international markets,” the Saudi Arabian General Investment Authority's (SAGIA) governor Ibrahim Al-Omar stated.
On a related note, the SEZ will also be managed by the General Authority for Civil Aviation (GACA) while SAGIA will be responsible for attracting investments.
The ILBZ will provide support for various overseas investors by supplying them with a slew of se,rvices including assembly, testing, staging, maintenance, repairs, inventory management, fulfillment, and warehousing.
The SEZ’s investments and timeframe were not disclosed.
