King Abdullah Economic City, January 2021: Pursuant to the government’s exemplary support initiatives in the wake of the COVID-19 pandemic and in accordance with sound investment principles and practices of supporting the economic cities, the Economic Cities and Special Zones Authority has extended the “Business Continuity” initiative until the end of the first quarter of 2021.
The initiative seeks to enable investors to benefit from the government initiatives launched by the Kingdom's leaders to mitigate the effects of the COVID-19 pandemic on the investment sector as it was launched through the ECZA Integrated Government Services Center (360°) at the end of Q1 2020.
The initiative features several incentives and payment deferrals, including automatic renewal of investment licenses; postponement of several dues related to investment license, and real estate and municipal services; deferral of the payment of fines resulting from violations; and the postponement of suspension of services for defaulters.
ECZA also announced the continuation of the efforts of 360° to facilitate access for all investors to the initiative's services through various communication platforms such as WhatsApp, website, email, and phone.
About the Economic Cities and Special Zones Authority
The Economic Cities and Special Zones Authority (ECZA) was established by Royal Decree in 2010 with the mandate to provide full administrative and financial supervision over the economic cities and special zones, including responsibility for regulating, supervising and providing various highly efficient, integrated single-window government services for investors and residents.
Moreover, ECZA contributes to the realization of Vision 2030 by developing initiatives and innovative business models that promote public-private partnerships and support strategic initiatives and efforts to attract quality investments designed to spur the economic cities and special zones and boost their value proposition.
ECZA’s vision is to make Saudi Arabia a globally attractive hub for high-value, long-term investments, based on the values of leadership, integrity, responsibility, partnership and customer-centricity. It is also committed to creating and nurturing attractive social environments that guarantee residents and workers in the economic cities and special zones a high standard of living.
The role of ECZA is integral as a guiding hand for the economic cities and special zones, and an attentive ear that listens to their needs and requirements to better enable them to achieve their objectives of diversifying the kingdom’s economy and creating quality jobs for young Saudi men and women.