| 19 May 2024, Sunday |

Saudi Arabia’s Crown Prince launches National Transport and Logistics Strategy

Saudi Arabia’s Crown Prince Mohammed bin Salman has revealed the National Transport and Logistics Strategy, which aims to upgrade all services and means of transport, according to Saudi Press Agency SPA.

The Crown Prince added that the strategy would allow Saudi Arabia to invest its geographical position in the middle of the three continents in diversifying its economy.

He added that the strategy also relies on sufficient governance models to improve institutional work in the transport and logistics system.

“The strategy focuses on developing infrastructure and launching several platforms and logistic areas in the Kingdom, the logistics sector is a major axis in the programs of the Kingdom’s Vision 2030, and a vital sector that enables economic sectors to achieve sustainable development,” the Crown Prince added.

The strategy aims to enhance the Kingdom’s position as a global logistics center, improve the quality of life in Saudi cities, achieve balance in the public budget, and improve the performance of the government apparatus.

The Crown Prince added that the strategy also aims to advance the Kingdom to become the fifth globally in air transit traffic, increase destinations for more than 250 international destinations, in addition to launching a new national carrier and adding new capabilities in the air freight sector that raise its capacity to more than 4.5 million tons.

The strategy aims to reach a capacity of more than 40 million containers annually and aims to improve the Kingdom’s logistic performance index to be among the top ten countries in the world.

The Crown Prince added that the strategy aims to achieve interconnection with the Arab Gulf states by a railway line.

The strategy also seeks to achieve multiple goals in terms of sustainability and preservation of the environment along with a reduction in fuel consumption by 25 percent.

The strategy will enable increasing the contribution of the transport and logistics sector in the national GDP to 10 percent and will also contribute to raising the non-oil revenues that the sector pumps to the state’s general budget by about 45 billion riyals annually in 2030.

  • alarabiya