Saudi Arabia: Global Strategic Partnerships Accelerate Electric Vehicle Industryhttps://english.aawsat.com/business/5039140-saudi-arabia-global-strategic-partnerships-accelerate-electric-vehicle-industry
Saudi Arabia: Global Strategic Partnerships Accelerate Electric Vehicle Industry
An electric car displayed during the Global EV & Mobility Technology Forum 2024 (Asharq Al-Awsat)
Saudi Arabia has forged strategic partnerships with major international companies to exceed the production capacity of 600,000 electric cars annually, supported by the efforts of the Public Investment Fund to promote this sector.
Speaking at the Global EV & Mobility Technology Forum, which is held in Riyadh on July 10-11, Undersecretary of the Ministry of Investment for Investment Development, Mohammed Al-Sahib, said that the Saudi market accounts for more than half of the total car sales in the GCC, which reflects the crucial role of the technology sector in the Kingdom’s economic landscape.
Al-Sahib also underlined his ministry’s keenness to double efforts aimed at providing the necessary resources, knowledge and guidance to support the industry.
Sustainable mobility
The forum featured an exhibition during which international companies, such as Lucid Motors, displayed sustainable mobility solutions, in addition to dialogue sessions that touched on several important files in the electric vehicle industry, including: future mobility solutions, operational efficiency and sustainability, the landscape of the automotive industry and opportunities in Saudi Arabia as part of the national strategy for the industry.
The forum also saw other important discussions on future initiatives and government policies for sustainable mobility in the Kingdom, in addition to strategies for promoting the adoption of electric vehicles, and the necessity of partnerships between the public and private sectors in financing and implementing future projects.
Foreign investments
The American Lucid company, which is partially owned by the Saudi Public Investment Fund, has opened the first factory in the Kingdom for electric cars in King Abdullah City (western Saudi Arabia).
Moreover, the Saudi sovereign fund established the Ceer automobile company, which is expected to attract foreign investments amounting to SAR 562 million ($149 million) and contribute to the domestic product by about SAR 30 billion ($8 billion) by 2034.
In November 2023, the Fund also launched the EVIQ Company, which specializes in providing electric charging points throughout the Kingdom, in addition to building a strong infrastructure for the sector, which helps raise the percentage of use of electric vehicles among members of society.
Global Logistics Forum in Riyadh Paves the Way for Strategic Partnershipshttps://english.aawsat.com/business/5071171-global-logistics-forum-riyadh-paves-way-strategic-partnerships
Global Logistics Forum in Riyadh Paves the Way for Strategic Partnerships
The Global Logistics Forum addressed key topics in the transport and logistics sector. (Asharq Al-Awsat)
The Global Logistics Forum, which concluded in Riyadh on Monday, saw the signing of over 60 strategic local and international partnerships and memorandums of understanding, with a total value exceeding SAR 16 billion ($4.3 billion).
In its 2024 edition, the forum aimed to boost international cooperation in the logistics sector, with the goal of reshaping the global logistics services map.
Saudi Deputy Minister of Transport and Logistics Services Dr. Rumaih Al-Rumaih stated that the forum “serves as a platform for collaboration” within the logistics system, with the goal of enhancing efficiency, resilience, sustainability, and profitability in today’s world.
According to Al-Rumaih, the agreements announced reflect the significance of the forum and its importance for the future of the sector, showcasing the transformative impact of cooperation and highlighting the Kingdom’s leadership role in the global logistics services sector.
“We aim to leverage our unique strategic position at the crossroads of three continents,” he added.
Medical supply agreements
The Ministry of Transport and Logistics Services, in collaboration with the Ministry of Investment, announced a series of significant agreements and memorandums of understanding.
Among the most prominent was a MoU with FedEx to explore investment opportunities in Saudi Arabia’s logistics and transport sector, agreements with Sadel Group to establish cold storage warehouses in Jeddah (western Saudi Arabia), and other agreements with Pacific International Lines and the Saudi Ports Authority (Mawani) to explore new opportunities in integrated logistics services and multimodal transport.
The Ministry of Transport and Logistics Services also announced the signing of memorandums of understanding with the National Unified Procurement Company for Medical Devices and Supplies (NUPCO) to establish new regional centers for supplying medical equipment and with the Saudi Industrial Development Fund to collaborate in developing transport and logistics services to support industrial transformation.
Key announcements and partnerships
The event witnessed major announcements from global sector leaders. Agility Logistics revealed the expansion of its warehouses in Saudi Arabia and signed an agreement with the Saudi Railways Company.
Additionally, Saudi Cargo signed a new partnership with the Second Airport Group to improve air cargo services.
New scholarship and training initiatives were launched during the event. The Ministry of Transport and Logistics Services announced agreements to send a group of national talents abroad for training and capacity-building to meet the needs of the sector in the Kingdom.
The agreements were made in collaboration with the Saudi Group, Airport Holding, The Helicopter Company, The Executive Company, and Saudi Railways Company.
The Saudi Logistics Academy also announced a series of training initiatives in cooperation with NEOM, Qassim University, and Al-Salihiya Logistics Agency.
Participants are seen at a panel discussion at the forum. (Asharq Al-Awsat)
Economic zones and hydrogen trains
The General Authority of Civil Aviation (GACA) unveiled a series of agreements with companies such as Alat, Bahri, and Danfoss.
It also granted licenses for integrated logistics service zones to several entities. The Economic Cities and Special Zones Authority awarded certificates to Tharawat Group and Masarat Logistics Services for establishing new centers in King Abdullah Economic City.
It also signed a memorandum of understanding with Saudi Post to develop a new addressing system that will facilitate business operations in Saudi Arabia’s special economic zones.
In addition, CEO of the Saudi Railways Company Dr. Bashar Al-Malik revealed the success of Saudi Arabia’s experiments with the first hydrogen-powered train aimed at evaluating the suitability of this technology for the Kingdom’s environment.
This comes after Prince Abdulaziz bin Salman, the Saudi Minister of Energy, announced last year during his speech at the opening of Climate Week that Saudi Arabia would have the first hydrogen-powered train in the Middle East.
The inaugural edition of the Global Logistics Forum addressed key topics in the transport and logistics sector, such as enabling global markets, investing in logistics infrastructure, enhancing the resilience of logistics services in the face of disruptions in the Red Sea region, in addition to discussing the “New Era of Energy Ports” and empowering talents to develop the industries of the future.
The event was held in the presence of a large number of ministers, senior officials, leaders of international organizations, industry associations, experts, academics, and analysts, and featured 130 speakers and 80 exhibitors from 30 countries.
