Eng. Ibrahim Al-Omar, Governor of the General Investment Authority, explained that the logistics area that to be established near King Khalid International Airport in Riyadh will have special rules and regulations aimed at attracting more large multinationals to the Kingdom in order to take advantage of the Kingdom's unique strategic location as a connecting hub between continents, which is one of the three pillars of Vision 2030.
He thanked the Custodian of the Two Holy Mosques, King Salman Bin Abdul Aziz Al Saud, and Prince Mohammed bin Salman bin Abdul Aziz, Crown Prince, Deputy Prime Minister and Minister of Defense, on the occasion of the royal decree approving the organization of the integrated logistics area, which is the first of its kind in the world.
Eng. Al-Omar said that the organization of the "Special Integrated Logistics Region" has been entrusted to the General Authority for Civil Aviation to functions of the competent authority to establish and operate the project.
The General Authority for Investment will develop and market investment opportunities in the region to attract the most important international companies.
He stressed that the establishment of the region is a confirmation of the rapid transformation in improving the investment environment in the Kingdom and strengthen its position as an attractive environment for investment and opportunities in all sectors.
The establishment of the Logistics Zone is part of a comprehensive plan to establish special economic zones in competitive locations for promising sectors that is including communications and information technology, logistics, tourism, industrial and financial services.
These areas will also benefit from the unique advantages of the Kingdom's site in terms of accessibility in less than seven hours to a large number of consumers in Europe, Asia, the Middle East and Africa, as well as its transport, communications and logistics infrastructure.
Al-Omar promised to create the region is a unique opportunity for multinational companies to enhance their operations and efficiency and access to regional and global markets.
He pointed out that there is a large proportion of global trade passing through the region, which makes this special logistics region in the Kingdom as a competitive position for any company seeking to serve these markets.
