Saudi Arabia has significantly advanced its transformation into a global logistics powerhouse, securing 93 agreements and memorandums of understanding worth over SR19.05 billion ($5.1 billion) this week. The agreements were signed during the 7th Supply Chain and Logistics Services Conference in Riyadh, underscoring the Kingdom’s commitment to enhancing its logistics infrastructure in line with its Vision 2030 objectives.
During the two-day event, Saudi Minister of Transport and Logistics Services Saleh bin Nasser Al-Jasser emphasized the importance of reshaping global supply chains through strategic partnerships. He pointed out that the Kingdom’s role in the transport and logistics sector has transitioned from aspiration to reality, as reflected in both national achievements and international indicators. Al-Jasser also highlighted the Kingdom’s advancements in digitalization, sustainability, and efficiency within the logistics sector.
In addition to the investment agreements, the conference showcased Saudi Arabia’s impressive logistics achievements, including a 6.2% contribution of transport and storage activities to GDP and a 34% year-on-year growth in air cargo volumes. The Kingdom’s logistics infrastructure has also been significantly expanded, with the addition of 30 new logistics centers.
