Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud has launched a national strategy for transport and logistics aimed at increasing the sector’s contribution to annual non-oil revenues to about $12 billion (45 billion riyals) in 2030.
The strategy aims to consolidate Saudi Arabia’s position as a global logistics hub connecting the three continents, improve all modes of transportation, and improve integration between the logistics system and modern modes of transportation to support the comprehensive development process of the Kingdom.
The strategy includes several key projects that will help the ministry achieve its economic and social objectives, as well as the adoption of effective governance models to improve institutional work in the transportation system. It also reflects the renaming of the Ministry of Transport as the Ministry of Transport and Logistics Services.
“The strategy will strengthen human and technical capabilities in the transport and logistics sector in the Kingdom. It will enhance the connection with the global economy and enable our country to invest its geographical position in the middle of the three continents in diversifying our economy by establishing an advanced logistics services industry, building high-quality systems of services, and applying competitive business models to enhance productivity and sustainability in the logistics sector. Transport and logistics are a major focus of the programs of the Kingdom’s Vision 2030 and a vital enabling factor for economic sectors towards sustainable development. The strategy focuses on developing infrastructure, launching several platforms and logistic zones in the Kingdom, implementing advanced operating models and systems, and strengthening effective partnerships between the government and the private sector to achieve four main goals: transform Saudi Arabia into a logistics hub, enhance livability across the Kingdom, enhance fiscal sustainability and improve public entities performance.”
The Crown Prince further noted that the strategy intends to advance Saudi Arabia to become the fifth globally in-transit passengers, expand international destinations to more than 250, in addition to launching a new national air carrier, which will enable other sectors such as Hajj, Umrah, and tourism to achieve their national goals. Furthermore, the strategy aims to boost the air cargo sector’s capabilities by doubling its capacity to more than 4.5 million tons.
Prince Mohammed has stressed that the strategy is based on important pillars such as the Kingdom’s major road networks, for which the country retains top global standing in terms of its connectivity. By adopting the latest in global cutting-edge and innovative technologies, the Kingdom also hopes to achieve goals in sustainability, preserving the environment, reducing fuel consumption by 25 percent, and providing smart solutions to facilitate travel between cities and the transportation of goods, he added.
“We are proud of the achievements made under the leadership of Custodian of the Two Holy Mosques King Salman and we plan to move forward to making many more for our country and advance its leading position in the world by increasing efforts and achieving more successes supported by our highly ambitious people. We are all confident in our ability to achieve national goals in line with the Kingdom’s Vision 2030,” Crown Prince concluded.