Thursday, September 28, 2023
HomeInternationalSaudi Arabia opens innovative economic zone in Riyadh

Saudi Arabia opens innovative economic zone in Riyadh

On October 31, 2022, Saleh Al-Jasser, Saudi Arabia’s Minister of Transport and Logistics, officially opened a cutting-edge economic zone for the logistics sector in Riyadh, according to Zawya. The zone is regarded as the most innovative economic zone in the world. 

The three million square metres Special Integrated Logistics Zone is ideally situated to service prospective clients from Africa, Asia, and Europe. It uses cutting-edge inventory management systems optimised for e-commerce to speed the movement of goods while establishing direct connections between investors, suppliers, customs, and government entities. 

According to Al Jasser, the economic zone’s debut is on pace with the Kingdom’s Vision 2030.

“The launch of the Special Integrated Logistics Zone today is a testimony to Vision 2030 and the relentless support of His Royal Highness for the sector, positioning the Kingdom as a global logistics hub connecting three continents, attracting the largest companies in the world to the Kingdom as our logistics sector is transformed by the National Transport and Logistics Strategy,” he said.

Saudi Arabia is focused on expanding its annual cargo capacity to over 4.5 million tonnes and raising the sector’s contribution to the national gross domestic product from 6% to 10%. 

This objective is part of KSA’s broader logistics industry restructuring by 2030. This will encourage corporate expansion, attract inward investment, and increase the sector’s non-oil revenues.

Subscribe To Newsletter


BRL Editor
BRL Editor
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.