Integrated logistics zone at Riyadh’s King Khalid International Airport which will serve Asia, Africa and Europe, has welcomed Apple as its first major investor.
This step goes in line with the objectives of the National Transport and Logistics Strategy.
The opening of this facility comes as a part of the investment ministry’s previously announced plan to launch multiple economic zones.
The new integrated logistics zone will contribute to raising Saudi Arabia’s cargo volume from 0.5 million tons today to 4.5 million tons by 2030, in alignment with the Kingdom’s Vision 2030.
This zone itself is unique. It encompasses best-in-class elements, enabling an optimal logistics and supply chain and environment. The integrated element of the zone means that all stakeholders, their systems, and transactions speak to each other in a seamless and transparent way.
The special integrated logistics zone will offer several privileges which include major tax advantages, including exemption from corporate tax to “zero tax” for a period of 50 years, exemption from VAT, deferment of customs duties, in addition to initiatives related to employment.