Saudi lays out strategy to grow logistics sector to $15.31bln by 2030

Saudi lays out strategy to grow logistics sector to $15.31bln by 2030

Saudi Arabia’s Ministry of Transport & Logistics Services (MOTLS) has laid out an ambitious strategy to grow the kingdom’s logistics sector market size to SR57.4 billion ($15.31 billion) by 2030 and position it as a global logistics hub.

In October 2022, The Crown Prince Mohammed bin Salman had launched the Global Supply Chain Resilience Initiative (GSCRI) to attract local and international investments in the supply chain sector. Aiming to raise SR40 billion ($10.64 billion) in its first two years, the initiative has set SR10 billion in financial and non-financial incentives for investors.

Saudi Arabia has been on the fast track to shift its economy away from oil and build a more diverse and holistic economic ecosystem. Currently, the logistics sector contributes 6% of the KSA GDP and is projected to contribute 10% by 2030, that is, around SR20.1 billion.

59 logistics zones

Boosting its cargo capacity and bolstering supply chains further, the kingdom announced the launch of 59 logistics zones by 2030, 21 of which are already operational. The country also inaugurated its first Special Integrated Logistics Zone at King Khalid International Airport, Riyadh.

The measures are part of the infrastructure development strategy and aim to fuel business growth, attract investment, and increase the sector’s