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Japan To Support Saudi Arabia To Create Free Trade Zones

by Mary Swire, Tax-News.com, Hong Kong

16 March 2017


Saudi Arabia is hoping to lure Japanese firms to invest in the country with tax breaks to be offered in new free trade zones.

Japanese Prime Minister Shinzo Abe recently met with Saudi Arabian King Salman bin Abdul-Aziz al-Saud to discuss further deepening the relationship between the two countries as part of their "Saudi-Japan Vision 2030" project.

It was agreed that Japanese firms would support Saudi authorities with the development of settings for these tax-privileged zones, with Saudi Arabia confirming plans to create the so-called "Enabler Showcase Zone."

Following on from the meeting, the Japanese Ministry of Economy, Trade, and Industry released a blueprint for the Vision 2030 project, in an English-language report titled "Compass of New Partnership." It said that Japanese industrial zones and business parks would share their knowledge with Saudi policymakers.

TAGS: tax | investment | business | Saudi Arabia | tax incentives | energy | financial services | social economy | tax breaks | trade | telecoms | Japan | free trade zone | services | business investment

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