Saudi Crown Prince Launches Master Plan for Logistics Centers to Make Kingdom a Global Logistical Hub
Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister and Chairman of the Supreme Committee for Transport and Logistics, has launched the Master Plan for Logistics Centers, which aims to develop the infrastructure of the Kingdom’s logistical sector, diversify the local economy, and enhance the status of Saudi Arabia as a leading investment destination and a global logistical hub.
The Crown Prince stressed that the plan is part of a package of ongoing initiatives set as targets by the National Transport and Logistics Strategy (NTLS) with the aim of developing the logistical sector to support the economy, increase the local, regional and international connections of the international trade networks and global supply chains, boost the partnership with the private sector, and increase the opportunity to generate jobs, and make the Kingdom a global logistical hub, given its geographical location among three important continents: Asia, Europe and Africa.
The Master Plan for Logistics Centers stipulates 59 centers with a total area of more than 100 million square meters, including 12 in Riyadh Region, 12 in Makkah Region, 17 in the Eastern Region, and 18 distributed in the rest of the Kingdom. There are currently 21 centers being worked on. All centers will be completed by 2030.
The centers will also enable local industries to export Saudi products with high efficiency, support e-commerce by facilitating a rapid link between logistics centers and distribution centers in the Kingdom’s various regions, cities and governorates, provide high traceability and facilitate the issuance of licenses to practice logistic activity, especially after the launch of the unified logistics license and the licensing of more than 1,500 local, regional and international logistics companies, and the launch of the Fasah initiative (an E-system integrated in Saudi customs), in cooperation with the concerned government agencies.
The logistics services sector represents one of the promising pillars of economic diversification and development in the Kingdom. It is currently witnessing many important initiatives and major developments aimed at developing the sector and expanding its economic and developmental contributions.
The Ministry of Transport and Logistics seeks to develop the logistics industry, enhance the export strategy, expand investment opportunities, and strike partnerships with the private sector.
Source: aawsat.com