Saudi Arabia has introduced 15 new incentives under its Authorized Economic Operator program to enhance its global logistics presence by boosting exports and securing supply chains.
The Ministry of Industry and Mineral Resources revealed these incentives, including administrative perks like liaison officers and account managers, to facilitate smoother investor processes and resolve challenges swiftly.
Companies participating in the program will have the opportunity to lease industrial land for up to 30 years and utilize the “Custom Factory on Demand” service, supporting industrial growth and strengthening Saudi Arabia’s trade position.
This initiative follows a prior allocation of SR10 billion ($2.66 billion) to the Standard Incentives Program aimed at stimulating industrial investment and sustainable development, approved by the Saudi Cabinet.
The incentives will expedite investor procedures and offer priority access to industrial lands and factories, along with preferential eligibility for benefits from the Saudi Export Development Authority.
The Saudi Industrial Development Fund (SIDF) offers additional financial support, covering up to 75% of project costs with up to 20-year repayment terms and grace periods of up to 36 months. Eligible companies can also benefit from SIDF’s advisory and training services.
The AEO program is central to Saudi Arabia’s strategy to improve customs and logistics services, streamline trade processes, and enhance supply chain efficiency.
This initiative aims to elevate Saudi companies as global leaders and attract investments, particularly aiding small and medium-sized enterprises.
Launched by the Zakat, Tax, and Customs Authority, the program aligns with international trade frameworks and facilitates smoother operations for businesses adhering to secure trade standards.
On January 11, the program expanded into a national initiative, integrating 15 government entities.