RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman on Sunday launched a master plan to develop logistics centers in the Kingdom as part of its efforts to diversify the economy, the Saudi Press Agency reported.
The crown prince unveiled a comprehensive plan that seeks to develop 59 logistics centers, encompassing a total area exceeding 100 million sq. meters.
These centers will span various regions, including 12 each in Riyadh and Makkah, 17 in the Eastern Province, and 18 across other parts of the Kingdom. The strategy aims for the completion of all centers by 2030.
The crown prince affirmed that the initiative is integral to enhancing Saudi Arabia’s international trade connections, particularly given its strategic geographic location that bridges Asia, Europe, and Africa, according to SPA’s report.
The logistics centers will facilitate faster export of Saudi products, and bolster e-commerce by ensuring quick, efficient connections between logistics and distribution hubs nationwide.
The plan is also expected to generate numerous job opportunities and expand the private sector’s role through partnerships as it is an extension of a series of ongoing initiatives aimed at elevating the Kingdom’s economic growth and enhancing its role on the global stage.
This announcement follows Saudi Arabia’s remarkable rise in the World Bank’s Logistics Efficiency Index last April, jumping 17 places to rank 38th globally among 160 countries.
Additionally, the Ministry of Transport and Logistics launched a package of initiatives in April to raise performance efficiency, re-engineer procedures, and apply international best practices in this vital sector.
As part of this overarching strategy, a specialized logistics zone will be established at King Salman International Airport in Riyadh, with Apple announced as its first international investor.
By 2030, the Kingdom aims to be among the top 10 countries globally in the logistics performance index, marking a significant milestone in its Vision 2030 objectives.
This strategic move confirms Saudi Arabia’s commitment to becoming a major player in the global logistics and transportation sector, underscoring its ambitious plans for economic diversification and international collaboration.
Source: Arab News