- The Council of Ministers
After reviewing in its session chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the correspondence received from the Royal Court No. 48335 dated 1447/6/13 AH, including the telegram of His Excellency the Minister of Investment, Chairman of the Board of the Economic Cities and Special Zones Authority No. 6862 dated 1446/9/28 AH, regarding the draft regulatory bylaws for the special economic zones.
And after reviewing the aforementioned draft regulatory bylaws.
And after reviewing the Statute of the Economic Cities and Special Zones Authority, issued by Royal Order No. (A/19) dated 1431/3/10 AH.
And after reviewing the Companies Law, issued by Royal Decree No. (M/132) dated 1443/12/1 AH.
And after reviewing the Commercial Register and Trade Names Laws, issued by Royal Decree No. (M/83) dated 1446/3/19 AH.
And after reviewing Council of Ministers Decision No. (233) dated 1444/3/29 AH.
And after reviewing memoranda No. (2580) dated 1445/7/17 AH, No. (4200) dated 1445/12/6 AH, No. (2246) dated 1446/6/25 AH, No. (3791) dated 1446/11/20 AH, No. (793) dated 1447/2/23 AH, No. (1626) dated 1447/4/30 AH, and No. (2385) dated 1447/6/27 AH, prepared by the Bureau of Experts at the Council of Ministers.
And after considering Shura Council Decision No. (11/133) dated 1447/6/10 AH.
And after reviewing the recommendation of the General Committee of the Council of Ministers No. (7357) dated 1447/7/8 AH.
It is decided as follows:
First: Approval of the regulatory bylaws for the special economic zones of (Jazan, Cloud Computing Information, King Abdullah Economic City, and Ras Al-Khair), in the attached forms.
Second: Exempting the companies licensed to practice activities in the special economic zones - referred to in item (First) of this decision - from the provisions of the Companies Law, issued by Royal Decree No. (M/132) dated 1443/12/1 AH, and the Commercial Register and Trade Names Laws, issued by Royal Decree No. (M/83) dated 1446/3/19 AH.
Third: The Economic Cities and Special Zones Authority, in coordination with the Ministry of Commerce, shall issue the necessary rules related to the companies licensed to practice activities in the special economic zones - referred to in item (First) of this decision - and their governance, as well as the related rights, duties, obligations, and responsibilities in this regard.
A draft Royal Decree has been prepared for what is contained in item (Second) above, its text is attached herewith.
Salman bin Abdulaziz Al Saud