Asyad 4th biggest logistics firm in MENA

Asyad 4th biggest logistics firm in MENA

Muscat – Asyad Group, Oman’s global integrated logistics service provider, has been ranked the fourth biggest logistics company in the Middle East and North Africa (MENA) by Forbes Middle East magazine for the year 2021.

In a statement, Forbes said Asyad Group is a US$4bn enterprise backed by US$20bn in government infrastructure spending.

Asyad Group offers integrated services and end-to-end logistics solutions to meet market needs and support Oman’s economy. The group comprises three deep ports and three free-zones supported by Oman’s five airports, and a world-class road network. In addition, Asyad Group operates one of the largest dry-docks in the region with a diversified fleet of 60 vessels.

‘Asyad Group is a driving force behind Oman’s national logistics strategy, which prioritises logistics as a major part of its economic future. Oman hopes the sector can contribute roughly US$36bn to GDP by 2040, up from US$2.6bn in 2016, while also creating 300,000 jobs,’ Forbes said.

It said the MENA region’s biggest logistics businesses are ramping up again after a tough period due to the pandemic and economic slowdown.

When compiling the ranking, Forbes considered: Size of the logistics company in terms of assets, revenues, and market value; percentage of trade enabled by the company and