Saudi Arabia’s Special Integrated Logistics Zone Company (SILZ) has announced the signing of three high-profile Memoranda of Understanding (MoUs) during the inaugural Global Logistics Forum (GLF).
The MoUs will see SILZ partner with leading global and regional companies to further develop “Riyadh Integrated,” Saudi Arabia’s first special logistics zone, contributing to industrial growth, economic diversification, and job creation in the country. Notable developments include:
•SILZ’s partnership with global retail giant SHEIN, who will lease a built-to-suit facility, enabling Saudi Arabia’s logistics capabilities while boosting the country’s role in international supply chains;
•Collaborating with the King Salman International Airport on developing a best-in-class logistics platform, enhancing Riyadh’s air cargo ecosystem;
•Establishing The White Palm Refinery through a joint venture with Valcambi and Ajlan & Bros to create Saudi Arabia’s first London Bullion Market Association (LBMA)-accredited precious metal refinery, positioning the country in the global precious metals market, expanding its refining capacity and export potential.
Streamlining supply chain processes
The agreements focus on streamlining supply chain processes, introducing value-added services, and expanding the country’s capacity to handle global logistics operations.
Dr Fadi Al-Buhairan, CEO of SILZ, said: “We are proud of the significant milestones we have achieved for SILZ and Saudi Arabia’s logistics industry. As a key sponsor of the Global Logistics Forum, the partnerships we’ve secured bring us closer to realizing our Vision 2030 goals. They also demonstrate our unique commitment to developing not just isolated businesses but full value chains that benefit from joint resilience and cost savings.”
With focus on light manufacturing, logistics, trade, and distribution, Riyadh Integrated provides a comprehensive ecosystem and value-added services through a one-stop shop. Investors benefit from innovative incentives, including 50-year tax relief, 0% corporate income tax, VAT and withholding tax exemptions, 100% foreign ownership, and streamlined certifications.--TradeArabia News Service
