RIYADH: The Abu Dhabi government has announced a package of incentives for Saudi investors including exemption from taxes, and that they will be treated as its citizens for all investment purposes.
The announcement was made at the Saudi-UAE Business Forum held in Abu Dhabi on Wednesday.
The forum held under the title “Together for Ever,” was attended by Majid Al-Qassabi, minister of commerce and investment; Sultan Al-Mansouri, UAE minister of economy; and the chairman of the Council of Saudi Chambers (CSC), Ahmed Al-Rajhi, with the participation of more than 1,000 government officials, investors, businessmen and women, and entrepreneurs from the two countries.
Describing the decision made at the forum as positive, Al-Rajhi said the meeting adopted a number of measures aimed at enabling Saudi investors to establish investment projects in the emirate of Abu Dhabi.
Al-Rajhi pointed out that the forum and its constructive decisions would help Saudi and UAE business owners enter into a new developmental stage of partnership and maintain a balance of trade cooperation between the two countries, especially as they are considered the largest Arab economies.
The new measures announced at the forum were the inclusion of Saudi investors in all facilities and exemptions, the most important of which is the cancellation of fees for lease agreements, the exemption of the Saudi investor from the fees of Abu Dhabi Chamber subscriptions, and also the provision of 100,000 square meters for Saudi investors for a three-year lease period for land within the Specialized Economic Zones, on which the Saudi investors could start up their enterprises.
The forum also witnessed the signing of three agreements including entrepreneurship, agricultural investment and governance. Three working sessions were held for the National Transformation Program (NTP) 2020 in light of Saudi Arabia’s Vision 2030 and the UAE Vision 2021, and also industrial integration between both sides and the role of women in the economy.
In his speech, Al-Qassabi stressed the importance of the forum as a step toward strengthening bilateral trade relations.
The minister pointed out that it had been agreed to hold this forum every two years, provided that its mechanism and agendas are developed and updated in accordance with economic, trade and investment circumstances and developments.
No tax on Saudi investments in Abu Dhabi
No tax on Saudi investments in Abu Dhabi
Saudi Arabia plans Riyadh-Jeddah railway by 2034
- Saudi Railway Co. CEO speaks to media on future transport plans
JEDDAH: Saudi Railway Co. CEO Bashar Al-Malik announced that a new railway linking Riyadh and Jeddah is planned to be completed in phases by 2034.
In an interview with Rotana Khalejia broadcaster Abdullah Al-Mudaifer, Al-Malik discussed the Kingdom’s rail network, its history, and major current and future projects.
He confirmed that the Riyadh-Jeddah line forms part of the Saudi Landbridge project, one of the most ambitious transport initiatives in the Kingdom.
Minister of Transport and Logistics Saleh Al-Jasser had said in an interview in 2022 that the Landbridge is being developed with an international consortium led by a Chinese company. He estimated the project could be completed within five to seven years.
According to Al-Jasser, the route, cost, and seven logistics hubs have already been identified. The railway will extend from Yanbu to King Abdullah Economic City, then to Jeddah and Riyadh, before linking with the Eastern Railway and the Northern Railway.
The project includes upgrading the existing Riyadh–Eastern Province line to meet modern technical standards. The total cost could reach SR100 billion ($26.67 billion), making it a transformative project for the Kingdom’s logistics sector.
Al-Malik said contracts have not yet been signed, emphasizing that the railway company will proceed only once an agreement is reached that fully meets Saudi Arabia’s needs and ambitions. A ministerial committee has been formed to oversee the project, which is scheduled for completion by 2034.
Al-Malik also highlighted the proposed Riyadh-Doha railway, describing it as the region’s first high-speed rail link between two neighboring countries.
The 785 km network will serve Riyadh, Hofuf, Dammam, and Doha, with five stations in total, including two in the Qatari capital. Trains are expected to operate at speeds of at least 300 kph.
He added that Saudi Arabia aims to increase rail’s share of transport to 30 percent following completion of the Landbridge and future GCC-wide rail connections.
Under the National Transport and Logistics Strategy, railways are receiving the largest share of investment through 2030.
After a long pause in railway development after the opening of the Riyadh-Dammam line in 1950, the Kingdom now operates about 4,000 km of railways and plans to add at least 2,000 km more.
Currently, SAR trains serve ports in Dammam, Ras Al-Khair, Jubail (commercial and industrial), and the Riyadh Dry Port. Future plans include extending rail connections to Jeddah Islamic Port, King Abdullah Economic City Port, and Yanbu Port.
Al-Malik said up to 10 additional trains could be added to the Northern Railway, which currently operates six trains and is considered among the world’s most advanced rail routes. The tender is expected in the third quarter of this year.
Discussing the Haramain High-Speed Railway, Al-Malik described it as “a unique, passenger-only system” connecting Islam’s two holiest cities.
The service operates at speeds of up to 300 kph, making it one of the world’s 10 fastest trains. It runs 35 trains and links Makkah with stations in Jeddah, King Abdulaziz International Airport, King Abdullah Economic City, and Madinah.
Responding to user feedback, Al-Malik said the railway company will launch a new unified mobile application before the end of the year, providing a single platform for all intercity train services in the Kingdom.
He also highlighted training programs for high-speed train drivers, noting strong participation from Saudi women — a rare trend globally — and praising their outstanding performance.
