01 February 2023
OPAZ sign MoU with ECZA for economic development of special economic zones and free zones
Riyadh - February 01, 2023
The Public Authority for Special Economic Zones and Free Zones (OPAZ) signed a Memorandum of Understanding with the Economic Cities and Special Zones Authorities (ECZA) in the Kingdom of Saudi Arabia in the field of economic and investment development and enhancing the competitive advantages of special economic zones and cities. The MoU stipulates setting a general framework for joint activities and missions, and developing institutional competences between both authorities to achieve mutual benefits.
The Memorandum of Understanding (MoU) was signed by HE Dr. Ali bin Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones, and HE Nabil bin Mohammed Khoja, Secretary General of the Economic Cities and Special Zones Authority in the Kingdom of Saudi Arabia.
Through this agreement, detailed studies and plans for the integrated economic zone in Al Dhahirah Governorate and joint investments in the economic zones will be conducted. Further, the two parties will exchange expertise and know-how in their specialty, including the exchange of studies related to exemptions and incentives provided in special economic zones and cities. Likewise, both authorities will collaborate in holding training courses, seminars, workshops and conferences as well as exchanging field visits.