Assistant Minister of Transport Takes part, in Industrial Fund Meeting

Assistant Minister of Transport and Logistics Abdulaziz Al-Arifi participated in the meeting of the Industrial Fund to Empower the Private Sector, during which he reviewed the fund’s most prominent capabilities for the sectors of industry, mining, energy and logistics services.

The meeting also included the launch of the “Land and Logistics Loan” product; which will contribute to achieving the goals of the Kingdom’s Vision 2030.

Al-Arifi, on behalf of the Minister of Transport and Logistics, affirmed that the Kingdom represents the largest market, at the Arab level in terms of expenditure and the largest in the Gulf in terms of population, which provides huge returns to the logistics sector, as the Kingdom enjoys a unique location that provides it with the ability to reach more than 6 billion consumers on three continents, giving it a huge strategic advantage on the logistical front.

The National Strategy for Transport and Logistics has set ambitious goals by 2030, including developing more than 60 logistic zones to support exports, e-commerce and re-export operations, he stated.

Establishment of 7 supportive logistic areas, such as Halat Ammar (30 million tons), Al-Qurayyat (20 million tons) and Al-Bat’ha (20 million tons) and others, he explained.

Al-Arifi added that the transport and logistics system will work in the coming period with the Industrial Fund to expand the scope of land and logistic loan platform, and also to include providing land for investment in the logistic sector from the General Authority of Ports, the General Authority of Civil Aviation and the Special Economic Zone, next to Riyadh’s airports
zone.
Expansion will be in addition to the great support provided by the Fund, within the transport and logistics system, which will contribute to achieving one of the most important objectives of the logistics sector, especially since the national strategy for transport and logistics aims to make the Kingdom among the top 10 countries, in the world, on the logistic performance index, by 2030, he asserted to conclude.