Introduction: Saudi Arabia's transformation into a global trade hub is exemplified by the significant anchor investments pouring into its four special economic zones. With a total value of SR47.2 billion ($12.6 billion) to date, these investments were highlighted during the Saudi Special Economic Zones Investment Forum held in Riyadh. The forum showcased both existing investments from companies like Lucid and Seera, as well as new investment pledges across various sectors and zones.
Investment Highlights:
King Abdullah Economic City: Himmah Projects committed SR2.15 billion to establish an automotive and mobility export hub catering to the Middle East and Africa. SIAC Construction pledged SR200 million for a specialized building materials hub to support regional infrastructure projects.
Ras Al-Khair: McDermott Arabia Co. and Makeen Energy will invest SR375 million and SR2.14 billion respectively to develop fully integrated engineering construction solutions for the energy industry. Baosteel, a China-based company, pledged SR15 billion for an integrated steel plate manufacturing facility.
Jazan: Pure Salmon plans to invest SR2 billion in sustainable salmon production, while Masharaq will establish a food facility with investments worth SR33 million. Wangkang, another Chinese investor, will invest SR5 billion to produce a range of glass products.
Riyadh: The General Authority for Civil Aviation signed an agreement with Valcambi and Ajlan and Brothers to establish a precious metal refinery in the Riyadh integrated special logistics zone.
King Abdulaziz City for Science and Technology: The Communications, Space, and Technology Commission signed memoranda of understanding (MoUs) with Microsoft and Oracle to explore cloud computing opportunities in their respective zones.
Conclusion: Saudi Arabia's special economic zones continue to attract significant anchor investments, signaling the country's growing stature as a global trade hub. With diverse sectors such as automotive, energy, aquaculture, and technology witnessing substantial commitments, these investments contribute to the Kingdom's economic diversification and development goals.