Under its overarching economic development plan, New Kuwait 2035, the government is working to strategically harness the country’s location on the Gulf to transform its transport and logistics industries into key contributors to GDP. Several significant upgrades to existing transport infrastructure are at an advanced stage, while a new logistics belt is a key component of the Madinat Al Hareer, or…
As environmental concerns become increasingly pressing for governments and businesses alike, the shipping industry is taking steps to reduce its carbon footprint. In August 2021 Danish shipping company Maersk, the world’s largest container shipping line, announced that it had invested $1.4bn in eight new vessels to be powered by methanol, rather than oil-based fuels. The ships, expected to be delivered…
Following delays, the long-awaited GCC Railway looks likely to be revitalised – a move that could transform trade and connectivity across the Gulf. The project was given a significant boost in December 2021 when leaders of the six GCC countries approved the establishment of the GCC Railways Authority, the body that is expected to oversee the ongoing coordination of the project. The decision marks…
By 2030 Saudi Arabia is seeking to attract 100m domestic and international tourists per annum as part of wider efforts to diversify economic growth away from hydrocarbons (see Tourism chapter). This target represents a significant increase in inbound visitors and internal movement within the Kingdom for leisure purposes, and will necessitate upgrades and expansion to transport infrastructure to meet…
Saudi Arabia’s transport and logistics sector encompasses a broad range of active facilities and routes. Given the Kingdom’s position between Europe and Asia and its central role in the global energy market, as well as the current importance of imported goods for meeting basic consumer demand, transport and logistics are crucial to the economy. Plans for the sector’s future involve a transformative…
Interview:Omar Hariri To what extent can further digitalisation and technology enhance port operations? OMAR HARIRI: Saudi Arabia’s ports handle more than 90% of the Kingdom’s exports. As such, digitalisation is an essential aspect of enhancing ports’ operations. This is why Mawani has been focused on this particular approach throughout its business strategy. One initiative being carried…
Interview:Faisal Saad Albedah In what ways can the private sector contribute to establishing Saudi Arabia as a logistics centre linking three continents, in support of Vision 2030? FAISAL SAAD ALBEDAH: The government has made a significant investment and put in place the mechanisms for the growth of the local logistics sector. Among the examples are improving infrastructure, making it easier…
With increasing oil and gas prices and an expanding non-oil sector, Saudi Arabia has been logging record trade surpluses in recent years, while securing government revenue for future investment. The Kingdom is expected to be among the fastest-growing economies in the G20 in 2022 – and was on track to fulfil that forecast by the middle of the year. Indeed, in the first three months of 2022 G
Saudi Arabia’s transport and logistics sector encompasses a broad range of active facilities and routes. Given the Kingdom’s position between Europe and Asia and its central role in the global energy market, as well as the current importance of imported goods for meeting basic consumer demand, transport and logistics are crucial to the economy. Plans for the sector’s future involve a transformative…
– Gulf countries have moved to revive the GCC Railway project – The rail link would significantly improve connectivity and trade within the bloc – Saudi Arabia, the UAE and Qatar have all improved transport networks in recent years – It is hoped that the project will give impetus to rail development elsewhere in the bloc Following delays, the long-awaited GCC Railway looks likely to…