SAWT BEIRUT INTERNATIONAL

| 29 November 2021, Monday |

Saudi Arabia launches ‘logistics license’ to simplify procedure for companies

Saudi Arabia’s Minister of Transport and Logistics, Saleh bin al-Jasser, launched the “Logistics License” on Wednesday at the Ministry’s Riyadh headquarters, which will streamline the licensing process for businesses.

According to the official Saudi Press Agency (SPA), the license’s launch aims to “strengthen the Saudi economy in accordance with the Kingdom’s Vision 2030, which includes all transport sectors, air, sea, land, and railways, ascending the Kingdom to the top 10 countries in the Logistics Performance Index by 2030.”

It also intends to establish more than 60 logistic zones to support exports, e-commerce, and re-exports, as well as to encourage trade through land ports, as well as to increase re-export revenues from 42 billion riyals ($11.2 billion) to 520 billion riyals ($138.65 billion), export revenues from 185 billion riyals ($49.33 billion) to 507 billion riyals ($135.18 billion), and the e-commerce sector

The logistic license provides holders with a number of benefits, including simplified procedures for companies seeking a license in the sector.

The license also aims to develop and raise the logistic performance index through the services provided, improve work in the sector and take advantage of promising investment opportunities that enhance the local economy and its connection to the international market, and consolidating the Kingdom’s strategic position among the rest of the countries as a global logistical center for trade and economic movement, according to SPA.

The press agency reported that the ministry will “integrate a number of different activities into one activity with the unified license for logistics services, where the tasks of the license will be based on the brokerage of land, air and sea freight.”