Saudi Arabia opens four special economic zones with eye on foreign investment

The special economic zones offer incentives such as competitive corporate tax rates, 100% ownership of companies and flexibility in employing foreign labor.
Saudi and foreign journalists are pictured at the Future Investment Initiative (FII) badge collection centre.
Saudi and foreign journalists are pictured at the Future Investment Initiative (FII) badge collection center in the Saudi capital, Riyadh, on Oct. 28, 2019. - FAYEZ NURELDINE/AFP via Getty Images
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Salim A. Essaid
@salim_a_essaid

Saudi Arabia announced on Thursday the launch of four new economic zones that will offer local and international investors incentives to invest in the kingdom, with the goal of bringing in higher inflows of needed foreign direct investment (FDI). 

Khalid Al-Falih, Saudi Arabia’s minister of investment, said this was an exciting moment for his country. 

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