RIYADH — The Minister of Transport and Logistics Eng. Saleh Bin Nasser Al-Jasser inaugurated at the Ministry's headquarters in Riyadh, the "Logistics License" Wednesday, in the presence of a number of their officials and CEOs of the largest logistics companies.

The logistics license aims to develop and raise the logistic performance index through the services provided, improve work in the sector and take advantage of promising investment opportunities that enhance the local economy and its connection to the international market, and consolidating the Kingdom’s strategic position among the rest of the countries as a global logistical center for trade and economic movement.

The ministry will integrate a number of different activities into one activity with the unified license for logistics services, where the tasks of the license will be based on the brokerage of land, air and sea freight.

The logistic license will include a number of advantages that it will provide to its holders, as procedures will be simplified for companies obtaining the license in the sector, which will reflect positively on attracting investors in the private sector from inside and outside the Kingdom.

The National Transport and Logistics Strategy emphasized the upgrading of the transport system, to strengthen the Saudi economy in accordance with the Kingdom’s Vision 2030, which includes all transport sectors, air, sea, land and railways, ascending the Kingdom to the top 10 countries in the Logistics Performance Index by 2030.

It would also develop more than 60 logistic zones to support exports, e-commerce and re-exports, in addition to encouraging trade through land ports, the growth of re-export revenues from SR42 billion to SR520 billion, export growth from SR185 billion to SR507 billion, and the expansion of the e-commerce sector from 6% to 23%. — SPA