An introductory forum was held at the Fairmont Hotel in Riyadh on Thursday under the patronage of the President of GACA, HE Mr. Abdulhadi Al- Mansouri, with the presence of local and foreign companies and investors. The logistics investments and opportunities in Saudi Arabia was reviewed to show how promising this sector is, as it enables the partnership with the government sector and creates an appealing modern work environment by facilitating all the procedures, calling all the interested parties to optimize the wide Saudi logistics network and the massive cargo traffic.
HE Al- Mansouri ensured the efforts of the Logistics Hub Executive Committee to overcome all the obstacles in the logistics sector, to achieve the Saudi Vision 2030. The Saudi leadership supports every potential to make Saudi Arabia a significant logistics hub connecting three cotenants and a bridge between all civilizations.
Saudi Arabia developed the logistic sector with SR400B capital investments by raising the capacity of the land, air, and maritime cargo and automating all the export/import procedures to empower this sector in the local economy and to raise the regional competitiveness. Today, the volume of the logistics market in Saudi Arabia is $18B, which is 55% of the total GCC logistics services' market. By 2020, the value of this sector is expected to be $25B, 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 logistic area in Saudi Arabia, the Integrated Logistics Bonded Zone (ILBZ) at King Khalid International Airport in Riyadh, and more areas to come in the near future.
HE Mr. Mansouri ended his speech by "…at this current stage, we are forming the cornerstone in the process of stimulating the logistics sector in the Kingdom of Saudi Arabia and the issuance of the Regulations for its establishment. Stressing the efforts of the Logistics Committee supported by all government sectors and in all aspects to make these projects a global exemplary model".
It is worth mentioning that the Kingdom of Saudi Arabia as logistics Hub is one of the initiatives of (National Industrial Development and Logistics Program) launched earlier this year, and it is one of the largest programs in the Saudi Vision 2030, that aims to transform the Kingdom into a leading industrial power and an international logistics hub.