Saudi Energy Minister Prince Abdulaziz bin Salman announced the Kingdom’s plan to establish 60 logistics zones by 2030. Speaking at the Forum for International Cooperation during the 3rd Belt and Road Initiative Summit in Beijing, the minister highlighted the significant areas of alignment between the Belt and Road Initiative and the Saudi Vision 2030.
Read more: Saudi logistics to witness growth with 59 new zones
Prince Abdulaziz noted that the conditions imposed by the coronavirus pandemic have underscored the interdependence of the global economy, supply chains, and value chains. He emphasized the significance of collaborative efforts between nations, highlighting the efficacy and feasibility of the orientations pursued by China and Saudi Arabia through the Belt and Road Initiative and Saudi Vision 2030. These initiatives aim to enhance economic interconnection and integration, building a resilient economy capable of overcoming challenges and recovering from crises.
Highlighting the developments in bilateral relations, the minister highlighted that 2022 marked the significant milestone of concluding the comprehensive strategic partnership agreement between Saudi Arabia and China. Moreover, the harmonization plan between Saudi Vision 2030 and the Belt and Road Initiative was signed, aiming to expand cooperation and foster greater interconnection across various sectors between the two nations.
Master Plan for logistics centersÂ
In August, Saudi unveiled the Master Plan for Logistics Centers in a strategic move that aimed to bolster the Kingdom’s logistical sector infrastructure, promote economic diversification, and elevate Saudi Arabia’s position as a premier investment destination and a global hub for logistics.
According to Saudi Crown Prince Mohammed bin Salman, 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.
As per the plan, a comprehensive framework has been established for the development of 59 centers spanning over 100 million square meters. These centers will be strategically located, with 12 in the Riyadh Region, 12 in the Makkah Region, 17 in the Eastern Region, and 18 distributed throughout the rest of the Kingdom. Currently, 21 centers are under construction, and all centers are slated to be completed by 2030.
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