KSA logistics sector market size to grow to 57.4bln SAR by 2030

KSA logistics sector market size to grow to 57.4bln SAR by 2030

Riyadh, Saudi Arabia: In line with the Vision 2030 objective of transforming the Kingdom into a leading industrial powerhouse and global logistics hub, the Ministry of Transport & Logistics Services (MOTLS) has laid out an ambitious strategy that aims to develop the Kingdom's transport & logistics sector and address the increasing global demand for logistics services.

Ever since, the sector has witnessed unprecedented growth and progress, making its mark on the global logistics industry, a direct outcome of the continuous efforts by MOTLS. In the recently released Logistics Performance Index 2023 (LPI) recently published by the World Bank, Saudi Arabia made significant progress, moving up 17 ranks to achieve 38th position, from 55th in 2018.

To bolster the Kingdom’s efforts in this direction, HRH Crown Prince Mohammed bin Salman has launched comprehensive programs focused on different aspects of the sector. The National Transport and Logistics Strategy (NTLS) was launched in 2021 with the aim to strengthen human and technical capabilities in the transport and logistics sector in the Kingdom. Earlier in 2019, the National Industrial Development and Logistics Program (NIDLP) was launched to build the country’s industrial and logistical capabilities and position it as a global leader in the industry.

The programs aspire