Saudi Arabia to implement economic city at al-Wadia border area
posted : 2011-04-12 05:47:18
SANA'A, March 17 (Saba) - Saudi Arabia has announced its desire to implement a joint economic city at al-Wadia border area between Yemen and Saudi Arabia.
This speech was delivered by Board Member of the Jeddah Chamber of Commerce and Industry JCCI) Abdullah Marie Bin Mahfouz at Najran Investment Forum under the slogan of "Land of Unlimited Opportunities".
The total surface area of this city estimates 40 million square kilometers, each of the two countries will allocates 20 million square kilometers from its land for this project, the JCCI official said.
The economic zone is to be distributed to a number of internal facilities, light industry facility, logistics support facility, packing and storage facility beside others.
Bin Mahfouz made clear that establishing this zone will exempt goods from all customs duties as well as streamline them between both countries in order to encourage and attract investment in addition to activate trade exchange movement between the two countries.