The establishment of the Center for Riyadh Special Economic Zones has been announced; aims to elevate the business competitiveness of Riyadh

The Board of Directors of the Royal Commission for Riyadh City (RCRC) announced the Centre for Riyadh Special Economic Zones' formation. By enhancing Riyadh's corporate competitiveness, this calculated action seeks to establish the Saudi capital as a significant global centre and to maintain its status as one of the world's most important city economies. The programme easily fits in with Vision 2030's diversification objectives.

The Centre for Riyadh Special Economic Zones will manage the creation of special economic zones in Riyadh under the direction of RCRC. Equipped with self-governing financial and administrative capabilities, the centre is poised to provide a competitive business climate and regulatory ecosystem that will promote company expansion.

By implementing best practises from throughout the world, this new project puts the centre in a position to provide licences to investors within the special economic zones and offer integrated services. The objective is to draw in talent from both domestic and foreign sources in order to facilitate the development of a favourable investment climate and the establishment of a regulatory framework for a range of economic endeavours.

Coordination between the Economic Cities and Special Zones Authority and the centre makes ensuring that knowledge is maximised and alignment is maintained. In particular, the centre will make Riyadh more competitive by providing alluring incentives and coordinating business ventures inside the special economic zones, putting them in a position to contend with rivals throughout the globe. This action is anticipated to drive economic diversification, solidify Riyadh's position as a regional centre for foreign businesses, and establish the city as a top worldwide investment destination.

In keeping with the objectives of Vision 2030, the Centre for Riyadh Special Economic Zones will be essential in generating fresh chances for high-quality investments. The centre will work with partners, stakeholders, and the government to develop incentives and policies that will increase Riyadh's overall competitiveness.