Latest news with #ECZA
Express Tribune
18-04-2025
- Business
- Express Tribune
Saudi Arabia offers tax relief, easy visa process to attract global talent
The campaign highlights Saudi Arabia's push to diversify its economy under Vision 2030, reducing oil PIXABAY Listen to article Saudi Arabia has unveiled a sweeping campaign to attract international businesses and top-tier professionals to its Special Economic Zones (SEZs), offering an array of incentives designed to transform the Kingdom into a regional investment powerhouse. Led by the Economic Cities and Special Zones Authority (ECZA), the initiative includes tax and customs exemptions, simplified visa processes, and a relaxation of financial equivalence rules for foreign talent. The campaign is a joint effort with the Zakat, Tax and Customs Authority and the Ministry of Human Resources and Social Development. 'The partnerships we are building across government institutions are key to enabling a more competitive, investor-friendly environment,' said ECZA Secretary General Nabil Khojah. 'These new incentives are designed to improve operational efficiency, minimize regulatory friction, and make our Special Economic Zones among the most attractive destinations for investment in the region.' The SEZs are positioned as dedicated hubs for industries such as logistics, advanced manufacturing, and technology, with the new incentives expected to significantly enhance their appeal. The campaign will also bolster legal infrastructure, with the establishment of dedicated arbitration and reconciliation centres within the zones. These centres—developed in partnership with the Ministry of Justice and the Saudi Center for Commercial Arbitration—are intended to provide international-standard dispute resolution services. Further regulatory collaboration with agencies like the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) is aimed at easing market entry for goods and services and reducing bureaucratic hurdles. A key component of the initiative is the expansion of ECZA's digital 'One-Stop-Shop' portal. This centralized platform links investors to all relevant government services, streamlining business licensing and operations. The portal also integrates real-time data-sharing capabilities to enhance transparency and efficiency in business processes. The campaign underscores Saudi Arabia's continued push to diversify its economy under Vision 2030 and reduce its dependency on oil revenues by creating a robust, investor-driven ecosystem in strategic growth sectors.
Leaders
18-04-2025
- Business
- Leaders
Saudi Arabia Unveils Tax Exemptions to Attract Global Talent
Saudi Arabia unveiled bold incentives on Thursday to attract foreign professionals and investors to its Special Economic Zones (SEZs). The Economic Cities and Special Zones Authority (ECZA) will offer tax exemptions, streamlined visas, and customs perks to drive high-value investments. ECZA collaborates with the Zakat, Tax and Customs Authority (ZATCA) and the Ministry of Human Resources to cut bureaucratic hurdles. The initiative prioritizes tax breaks, financial equivalence exemptions, and faster visa processing for global talent. Nabil Khojah, ECZA Secretary General, stressed the zones' competitive edge: 'Our partnerships ensure transparent regulations and operational efficiency. Tax exemptions and flexible labor rules make SEZs ideal for long-term investors.' Legal Reforms Boost Dispute Resolution A new agreement with the Ministry of Justice establishes arbitration centers in SEZs. These hubs will adopt global standards to resolve commercial disputes swiftly, boosting investor confidence. ECZA partnered with the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) to simplify product compliance checks. Foreign businesses can now enter Saudi markets faster while meeting local quality and safety guidelines. Furthermore, ECZA upgraded its One-Stop-Shop portal to link investors with regulators seamlessly. Enhanced data-sharing across government platforms will slash licensing delays, supporting Saudi Arabia's digital transformation goals. Saudi Arabia's SEZ reforms align with Vision 2030 to diversify the economy. By reducing red tape and offering financial perks, the Kingdom aims to rank among the world's top investment destinations. Short link : Post Views: 19
Gulf Business
18-04-2025
- Business
- Gulf Business
Saudi Arabia's business boost: Tax exemptions, incentives to be availed
Image credit: Getty Images Saudi Arabia launched a campaign on April 17 to attract foreign talent to its Special Economic Zones (SEZs) through a range of incentives and tax exemptions. According to a The campaign includes tax and customs exemptions, streamlined visa issuance, and financial equivalence exemptions for foreign professionals. Read-Insights: This initiative is being implemented in collaboration with the Economic Cities and Special Zones Authority (ECZA), the Zakat, Tax and Customs Authority, and the Ministry of Human Resources and Social Development. Strategic partnerships The campaign highlights ECZA's strategic partnerships with key Saudi government bodies to offer targeted incentives and regulatory benefits for investors in the Kingdom's SEZs. These collaborations reflect ECZA's commitment to creating a transparent and simplified regulatory environment that supports high-quality investments. 'We are working closely with various government entities to activate a suite of attractive investment incentives, such as tax exemptions and streamlined labor regulations, positioning SEZs as a competitive and promising destination for investors,' said ECZA Secretary General Nabil Khojah, emphasizing the importance of these partnerships. Khojah also noted that the new measures are designed to enhance operational efficiency and reduce the regulatory burden for both new and existing investors. Key collaborations Among the key collaborations is an agreement with the Ministry of Justice and the Saudi Center for Commercial Arbitration to establish dedicated arbitration and reconciliation centers within SEZs. These centers will operate according to international best practices to enhance legal certainty and improve dispute resolution for businesses. Streamlining compliance ECZA has also partnered with the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) to streamline compliance procedures and facilitate the entry of products and services into the Saudi market. To support digital transformation, ECZA is enhancing integration across government platforms by activating data-sharing mechanisms and expanding its One-Stop-Shop portal. This platform connects investors with all relevant regulatory entities, expediting licensing and operational processes.
Gulf News
18-04-2025
- Business
- Gulf News
New jobs: Saudi Arabia unveils tax incentives to lure talent, boost investments
Riyadh: Saudi Arabia, on Friday, launched a new campaign on Thursday aimed at enhancing its investment landscape by drawing foreign talent and businesses to its Special Economic Zones (SEZs), offering a package of tax exemptions, streamlined visas, and regulatory incentives. The initiative, led by the Economic Cities and Special Zones Authority (ECZA), is being rolled out in collaboration with the Zakat, Tax and Customs Authority and the Ministry of Human Resources and Social Development. Together, these agencies offer customs and tax breaks, easing visa procedures and removing financial equivalence requirements for international talent, aiming to solidify the Kingdom's SEZs as hubs for global business. 'The partnerships we are building across government institutions are key to enabling a more competitive, investor-friendly environment,' said ECZA Secretary General Nabil Khojah. 'These new incentives are designed to improve operational efficiency, minimize regulatory friction, and make our Special Economic Zones among the most attractive destinations for investment in the region.' The campaign reflects ECZA's strong coordination with key state entities to offer targeted benefits to investors and companies setting up within SEZs. These zones are envisioned as high-growth areas tailored for global logistics, manufacturing, and technology companies. As part of the campaign, a partnership with the Ministry of Justice and the Saudi Center for Commercial Arbitration will establish dedicated arbitration and reconciliation centres within the Special Economic Zones. These centres, modelled on international standards, aim to enhance legal certainty and offer more efficient dispute-resolution mechanisms for businesses operating in the zones. Further agreements with the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) aim to reduce regulatory bottlenecks and simplify market access for goods and services entering Saudi Arabia. The campaign also focuses on digital integration. ECZA is expanding its One-Stop-Shop portal, a centralized digital platform that connects investors with all necessary government agencies, helping to accelerate business licensing and operational approvals. Enhanced data-sharing tools across government platforms are expected to improve transparency and ease of doing business.
Gulf Insider
18-04-2025
- Business
- Gulf Insider
Saudi Arabia Offers Tax Exemptions And Incentives To Attract Foreign Talent To Special Economic Zones
Saudi Arabia launched on Thursday a broader campaign to enhance its investment appeal with attracting foreign talent to Special Economic Zones through a series of incentives and tax exemptions. The Economic Cities and Special Zones Authority (ECZA) is collaborating with the Zakat, Tax and Customs Authority and the Ministry of Human Resources and Social Development to offer tax and customs exemptions, as well as to facilitate visa issuance, and provide financial equivalence exemptions for foreign talent. The campaign highlights ECZA's strategic partnerships with key Saudi government entities to provide targeted incentives and regulatory benefits for investors in the Kingdom's Special Economic Zones (SEZs). These collaborations reflect ECZA's commitment to fostering a transparent and simplified regulatory ecosystem that encourages high-quality investments. ECZA Secretary General Nabil Khojah emphasized the significance of these partnerships, stating: 'We are working closely with various government entities to activate a suite of attractive investment incentives, such as tax exemptions and streamlined labor regulations, positioning SEZs as a competitive and promising destination for investors.' He noted that the new measures aimed to enhance operational efficiency and reduce the regulatory burden for both new and existing investors. Among the key collaborations is an agreement with the Ministry of Justice and the Saudi Center for Commercial Arbitration to establish dedicated arbitration and reconciliation centers within SEZs. These centers will operate according to international best practices to improve legal certainty and dispute resolution for businesses. ECZA has also partnered with the Saudi Standards, Metrology and Quality Organization (SASO) and the Saudi Food and Drug Authority (SFDA) to streamline compliance and facilitate the entry of products and services into the Saudi market. To support digital transformation, ECZA is enhancing integration across government platforms by activating data-sharing mechanisms and expanding its One-Stop-Shop portal. This platform connects investors with all relevant regulatory entities, accelerating licensing and operational processes.
