The Public Authority for Industry has started renewing investor contracts in the former Shuwaikh Free Zone (Future Zone), seen as the first of its kind step since 2017.

A local Arabic daily quoting sources indicated that the ‘Authority’ has already begun handing over contracts to investors who meet the specified conditions, including those related to all financial requirements due to the concerned authorities, in exchange for the use of their plots, whether in terms of payment for usufruct, or electricity and water bills, stressing the renewal is for all 117contracts.

The sources pointed out that starting to renew the investors contracts of the former Shuwaikh Free Zone (the Future Zone) constitutes a major investment turning point for the region, and re-exploit it to ensure its operation and benefit from it, explaining that the renewal of contracts of the zone’s investors depends a lot on increasing business activity and expanding its business.

The Authority has appealed to all investors of the former Shuwaikh Free Zone to complete all financial and administrative procedures required to receive their new contracts.

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