Saudi Arabia launches ‘Logistics License’ to boost sector’s performance

By Amirtha P S, Desk Reporter
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Saudi Arabia
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The Minister of Transport and Logistics, Eng. Saleh Bin Nasser Al-Jasser has launched the “Logistics License” to enhance the performance of the sector. 

The logistics license, which was launched at the Ministry’s headquarters in Riyadh under the presence of a number of their officials and CEOs of the largest logistics companies, consolidates the Kingdom’s strategic position among the rest of the countries as a global logistical hub for trade and economic movement.

The license aims to 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 global market.

With the unified license for logistics services, the ministry will integrate a number of different activities into one activity, where the tasks of the license will be based on the brokerage of land, air and sea freight.

The license includes a number of benefits that it will provide to its holders, as procedures will be simplified for companies obtaining the license in the sector, which will reflect positively on attracting investors in the private sector from inside and outside the country.

The National Transport and Logistics Strategy stressed the upgrading of the transport system, 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 country to the top 10 countries in the Logistics Performance Index by 2030.

It would also develop over 60 logistic zones to support exports, eCommerce and re-exports, in addition to encouraging trade through land ports, the growth of re-export revenues from $11 billion to $138 billion, export growth from $49 billion to $135 billion, and the expansion of the eCommerce sector from 6 percent to 23 percent.

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