$5.2 billion.. Investments in Saudi special economic zones

According to the Saudi Economic Cities and Special Zones Authority (ECZA), four Saudi special economic zones have been granted official licenses.

$7.2 billion investment

The four regions, which are Ras al-Khair, Jazan, King Abdullah Economic City, and the Cloud Computing Special Economic Zone, have received combined investments of more than 27 billion riyals (equivalent to approximately $7.2 billion).

Special economic zone

Investment Minister Khaled Al-Falih, Chairman of the Special Economic Zone Authority, confirmed during his opening speech at the Saudi Forum for Investment in Special Economic Zones in Riyadh, that these zones are part of the state's efforts to strengthen its position as an investment center and provide companies with the advantages of a platform to expand into new target markets.

$266.6 billion investment sector in the Kingdom of Saudi Arabia

Moreover, he stated that the investment sector in the Kingdom of Saudi Arabia exceeded one trillion riyals ($266.6 billion) for the first time in the country's history in 2022, after growing by about 31 percent.

$5.2 billion in investments in special economic zones

According to CNBC, the special economic zones in Saudi Arabia have attracted the attention of global investors from around the world who have already invested as much as 19.6 billion Saudi riyals ($5.2 billion) ahead of the official launch.

Diversifying the Saudi economy

In April, the Kingdom launched four special economic zones aimed at developing and diversifying the Saudi economy, and improving the investment climate, including the cloud computing zone, which is described on the Saudi Silicon Valley website as an incubator for emerging and advanced digital technologies.

$834 billion direct investments in the global cloud computing market

The global cloud computing market is expected to increase to USD 834 billion in 2027 from approximately USD 334 billion in 2021.

Saudi Arabia aims to achieve a cloud computing market size of US$10 billion by 2030, which is expected to attract up to US$13 billion both abroad and domestically. Direct investments.