Saudi Arabia has introduced 15 new incentives through the Authorized Economic Operator (AEO) program to enhance export competitiveness and strengthen its role as a global logistics hub. The initiative, led by the Ministry of Industry and Mineral Resources, aims to streamline processes and provide administrative benefits for investors.
Key incentives include access to industrial land with long-term leases of up to 30 years and eligibility for customized factory services. These measures are part of a broader strategy to boost industrial expansion and global trade participation.
Earlier, the ministry announced a SR10 billion fund to activate the Standard Incentives Program, approved to stimulate industrial growth and sustainable development. The new incentives promise expedited procedures and priority access to industrial lands, alongside preferential eligibility for benefits from the Saudi Export Development Authority.
The Saudi Industrial Development Fund offers financial support, covering up to 75% of project costs with extended repayment terms and grace periods. Additionally, advisory services and training programs are available through SIDF’s industrial academy.
The AEO program is crucial to Saudi Arabia’s strategy for improving customs and logistics services and attracting investments. It supports local and foreign enterprises, particularly small and medium-sized businesses, by simplifying trade processes and enhancing supply chain efficiency.
Launched by the Zakat, Tax, and Customs Authority, the Saudi AEO program aligns with international trade standards and involves 15 government entities. This alignment facilitates smoother operations within the global customs framework for compliant businesses.