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Saudi Arabia Announced the Establishment of the Saudi-China Special Economic Zone
  • Updated:

    10-29-2024

    Source:

    people.com.cn
  • Saudi Arabia's Minister of Transport and Logistics Services, Saleh bin Nasser AI-Jasser, announced on Oct. 13th in Riyadh that the Saudi-China Special Economic Zone (SCSEZ) with an area of 4 square kilometers will be constructed within King Salman International Airport (the Airport). The SCSEZ, which is planned to be developed by the Airport in collaboration with the international investment agency EWPartners, will focus on the development of manufacturing, logistics and trade sectors in order to enhance economic and trade cooperation between Saudi Arabia and China.

    The first Global Logistics Forum, hosted by the Ministry of Transportation and Logistics Services, was held in Riyadh on Oct. 13th , with over 10,000 government and business representatives from more than 30 countries and regions attending. In his opening speech, Saleh stated that Saudi Arabia is committed to becoming a global logistics powerhouse, which is also one of the key objectives of Saudi Arabia's "Vision 2030".

    The Airport is a state-level infrastructure project announced by Crown Prince and Prime Minister Mohammed in August last year, which covers an area of 57 square kilometers and has 6 parallel runways. It is estimated that by 2050, the annual passenger volume will reach 185 million, and the annual freight throughput will exceed 3.5 million tons.

    The special economic zone, which will be located within the Airport, is scheduled to start construction in 2025, with a planned area of 4 square kilometers. It will feature 3 functional zones: a logistics/light industrial park, designed to accelerate the establishment and improvement of the local supply chain and enhance industrial capacity, to attract multinational companies; an international business park that will provide one-stop services for businesses to streamline the entry process and facilitate trade activities; and a residential area providing living facilities and services for employees and their families of the tenant companies.

    Marco Mejía, Acting CEO of the Airport Development Company, said that the building of the SCSEZ was an essential step in making the Airport an international logistics hub, which will significantly enhance the Airport's logistics infrastructure development and operational efficiency, and further boost the growth of Saudi Arabia's economy and trade.

    Li Jinji, founding and managing partner of EWPartners, believed that the special economic zone will fully unleash the potential of Saudi Arabia's cross-border trade in the future, and contribute to the rapid development of the regional logistics and e-commerce industries.


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