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Saudi Arabia to Create Special Economic Zones To Raise Investment

  • Kingdom targets 19-fold increase in foreign direct investment
  • Plans to be investment hub increasing competition with Dubai
Photographer: Simon Dawson/Bloomberg
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Saudi Arabia plans to offer new incentives, revamp regulations and create special economic zones to attract more investment and convince multinationals to relocate their regional headquarters to the kingdom.

The special zones will focus on “high-priority sectors” and offer “competitive regulations,” as part of a new National Investment Strategy announced on Monday by Crown Prince Mohammed bin Salman, according to the official Saudi Press Agency.