During a recent conference held at the Fairmont Hotel in Riyadh, the president of the .
Saudi Arabia has developed its logistic sector with SR400 billion capital investments by raising the capacity of land, air and maritime cargo and automating all the export/import procedures to empower this sector in the local economy and to raise regional competitiveness. Currently, the volume of the logistics market in Saudi Arabia is $18 billion, which is 55% of the total GCC logistics services’ market. By 2020, the value of this sector is expected to be $25 billion, making it the fastest-growing market worldwide.
GACA is in the process of launching several promising projects to revive this sector, one of which is the first logistics area in Saudi Arabia, the Integrated Logistics Bonded Zone (ILBZ) at King Khalid International Airport in Riyadh. More such areas are slated to come up in the near future.
“At this current stage, we are in the process of stimulating the logistics sector in the Kingdom of Saudi Arabia. we would like to stress on the efforts of the Logistics Committee supported by all government sectors to make these projects a global exemplary model,” stated Al-Mansouri.
It is worth mentioning that the Kingdom of Saudi Arabia as a logistics hub is one of the initiatives of the National Industrial Development and Logistics Programme launched earlier this year. It is one of the largest programmes in the Saudi Vision 2030, which aims to transform the Kingdom into a leading industrial power and an international logistics hub.
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