Saudi Finance Minister Shares Positive Outlook with Investors in Economic Zones within the Kingdom

Saudi Arabian Finance Minister Mohammed Al-Jadaan has announced various tax breaks for investors in economic zones in the Kingdom.

During a session at the Special Economic Zones Investment Forum, Mohammed Al-Jadaan explained, “We will cut taxes for twenty years so that investors can plan for the long term,” adding, “We will also provide ongoing welfare benefits. business owner tax and permanent value tax exemption.” added to transactions between companies in the economic zone and between companies in different economic zones.

Al-Jadaan continued: “We will provide incentives for attracting talent and exemption from various fees associated with attracting talent.”

The Minister of Finance pointed out that Saudi Arabia is the only country to receive 3 positive ratings from three rating agencies this year, noting that this confirms that the Saudi Arabia Vision 2030 path, which began 7 years ago, is on the right track as Saudi Arabia is witnessing growth and momentum in addition to private sector confidence.

Al-Jadaan pointed out that the economic zones complement all of this and their aim is to accelerate the progress made, as well as to ensure the completion of growth and the use of a number of opportunities that have been created over the past 7 years, in addition to benefiting from the movement of global value chains.

It is worth noting that the Saudi Special Economic Zone Investment Forum kicked off today, Monday, which sheds light on the system of special economic zones and the benefits it provides to investors.

Source: “before”

Related Stories

Leave a Reply