Exemption from implementing Saudization is one of the incentives offered at special economic zones as per Minister Ahmed Al-Rajhi

One of the benefits provided in the special economic zones in the Kingdom, according to Minister of Human Resources and Social Development Ahmed Al-Rajhi, is exemption from the implementation of the Saudization requirement. According to him, this incentive is one that was put in place to provide flexibility and competitiveness for international businesses.

Al-Rajhi stated in his speech at the Saudi Special Economic Zones Investment Forum on Monday that hiring Saudis will earn investors in the special economic zones benefits from the Human Resources Development Fund (HADAF).

He noted that if the investors choose to take advantage of the basic economic advantages, they would be able to. The purpose of the special economic zones announced today is to draw both businesses looking to relocate to the Kingdom and foreign startups in specific fields. In order to make sure that these incentives are competitive and adaptable in the eyes of international investors, we have established incentives through customised packages following a very rigorous analysis of global and regional norms, the minister stated.

Al-Rajhi pointed out that, in contrast to the basic economy, the special economic zones will not be governed by Saudization laws. It is notable that on Monday, Saudi Arabia formally granted permits to four new Special Economic Zones. North of Jeddah, in the cities of Riyadh, Jazan, Ras Al-Khair, and King Abdullah Economic City, they may be found.