Saudi Arabia is set to invest more than SR1 trillion ($267 billion) in its logistics sector, positioning itself as a global logistics hub by 2030. Announced during the Global Logistics Forum 2024 in Riyadh, Minister of Transport and Logistics Services Saleh bin Nasser Al-Jasser confirmed that SR200 billion has already been invested.
Al-Jasser highlighted Saudi Arabia’s significant rise in global rankings, jumping 17 places in the Logistics Performance Index and 14 in the Global Connectivity Index. The Kingdom’s logistics strategy, part of Vision 2030, aims to connect three continents and enhance the nation’s role in global trade.
The forum focuses on addressing key challenges facing the logistics sector, such as supply chain disruptions, while embracing technologies like AI and blockchain. Saudi Arabia is also making strides in sustainability, reducing carbon emissions by eliminating 1 million truck journeys via its rail network.
Major deals were signed during the event, including agreements on maritime connectivity with Egypt and new logistics developments at King Salman International Airport and King Abdullah Port.
The event aims to bolster international collaboration and modernize global supply chains as Saudi Arabia strives to redefine its role in global logistics.