The Saudi General Authority for Civil Aviation (GACA) released executive rules for organising the Special Integrated Logistics Zone at King Khalid International Airport, Riyadh.
The GACA’s board of directors approved the rules for the Special Integrated Logistics Zone, according to media reports. The rules comprise licence procedures and requirements to ensure transparency and clarity. The zones are part of the government’s effort to attract foreign investments to the Kingdom of Saudi Arabia.
The general provisions of the executive rules are related to the use of terms, phrases and illustrative meanings—in addition to the zone’s management, development and supervision. The licencing and leasing provisions are specific to rental units in the zone provided by the GACA.
A royal decree approved the regulation defining the executive rules for the Specialised Integrated Logistics Zone. Those rules also dictate special taxation rules that is application to entities carrying out approved activities in the zone. Also, the General Authority of Zakat and Tax (GAZT) will define special rules and guidelines related to taxation.
The vision is to attract major international companies to the Kingdom. This way the companies will also benefit from the Kingdom’s strategic location as an international hub—in line with Saudi Vision 2030.
The Special Integrated Logistics Zone is part of logistics platform, an initiative by the National Industrial Development and Logistics Programme. The programme was established to achieve Saudi Vision 2030.
The Vision 2030 is a blueprint of the Kingdom’s long-term goals and expectations. It is built on three pillars—a vibrant society, a thriving economy and an ambitious nation.