Source: Reuters | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – KAIRO. Saudi Arabia’s Crown Prince Mohammed bin Salman unveiled a strategy aimed at making the kingdom a global logistics hub and increasing the sector’s contribution to non-oil revenues to about 45 billion riyals ($12.00 billion) by 2030, state media are quoted as saying. Reuters.
The plan projects the launch of a new national airline to increase the number of international destinations to more than 250 and double its air cargo capacity to more than 4.5 million tonnes.
The development of ports and other infrastructure, such as rail and road networks, will allow shipping capacity to reach more than 40 million containers per year, state news agency SPA said.
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The plan will increase the contribution of the transportation and logistics sector to gross domestic product to 10 percent from 6 percent, he added.
“The comprehensive strategy aims to position Saudi Arabia as a global logistics hub connecting the three continents,” said de facto ruler Prince Mohammed.
He added that it would also improve fiscal sustainability and quality of life across the kingdom.
The prince has unveiled an ambitious plan to diversify the economy of the world’s biggest crude exporter and reduce its dependence on oil revenues by 2030.
