RIYADH: Saudi Arabia has approved the regulatory frameworks for four Special Economic Zones located in Jazan, the Cloud Computing Zone, King Abdullah Economic City, and Ras Al-Khair, formalising governance structures designed to attract investment and accelerate sectoral growth.
According to the Saudi Press Agency, the SEZs will offer tailored incentives and regulatory environments to enhance competitiveness in advanced manufacturing, maritime logistics, cloud technology, and energy-related industries. The initiative forms part of the Kingdom’s Vision 2030 strategy to diversify the economy, boost foreign direct investment, and develop new growth engines beyond oil.
Minister of Investment Khalid Al-Falih welcomed the Cabinet’s decision, noting that the approval represents a critical step in improving the business environment and strengthening the national economy’s competitiveness.
The Cabinet session, chaired by King Salman bin Abdulaziz Al Saud, also approved multiple international cooperation agreements. These included memoranda of understanding on energy cooperation with Pakistan, healthcare collaboration with Iraq, and digital communications with Palestine, alongside agreements with UNESCO, the World Economic Forum, and the Hungarian judiciary.
In addition, the Cabinet approved the establishment of a commercial and economic office for the Hong Kong Special Administrative Region in Riyadh, signalling deeper trade and investment ties with Asian financial centres. Infrastructure developments were also reviewed, including the launch of phase three of Riyadh’s major road development programme aimed at enhancing sustainable transport and logistics.
Further decisions included Saudi Arabia’s accession to the Beijing 2010 Convention on international civil aviation security, revisions to defence development governance, the closure of national and regional tourism development councils, and the endorsement of final accounts for several government entities. The session also confirmed senior appointments and promotions across multiple government bodies.
