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Riyadh to Host Saudi Rail Conference and Exhibition on November 20-21

The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)
The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)
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Riyadh to Host Saudi Rail Conference and Exhibition on November 20-21

The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)
The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)

Riyadh is slated to host the inaugural edition of the Saudi Rail Conference and Exhibition on November 20-21, under the patronage of Minister of Transport and Logistic Services and Chairman of Saudi Arabia Railways (SAR) Saleh Al-Jasser.

The event will highlight the advancements and innovations in the railway sector and gather insights from local and international perspectives.

Al-Jasser emphasized that the event aligns with the transformative developments taking place in the Kingdom's transportation and logistics sector, particularly in the railway industry, and highlighted the substantial support provided by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, to the sector.

Al-Jasser underscored the pivotal role railways play in driving the Kingdom's economic and social development by facilitating the movement of people and goods, helping to boost trade and tourism, serving Hajj and Umrah pilgrims, and contributing to reducing emissions by decreasing the number of daily car and truck trips.

He reiterated the Kingdom's commitment to advancing railway infrastructure, enhancing rail network efficiency, and improving user services.

Several national railway projects are underway as part of the Kingdom's strategic vision to strengthen its position as a leading global logistics hub, he went on to say.

SAR CEO Dr. Bashar AlMalik said that by hosting this event, Saudi Arabia reinforces its leading position in the transport and logistics sector, and positions itself as a global hub for railway operators.

The conference, one of the largest events of its kind in the Middle East and North Africa region, will be attended by a large number of industry experts. Over 200 local and international speakers will engage in panel discussions focused on cutting-edge innovations and solutions in the railway sector.

It will feature more than 200 exhibitors, offering a crucial platform for networking and exchange of knowledge among key industry stakeholders.

The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies, solidifying the Kingdom's position as a global logistics hub that collaborates with both domestic and international stakeholders.

SAR's network has expanded to include three intercity lines: the North Railway, the East Railway, and the Haramain High-Speed Railway, inaugurated by the Custodian of the Two Holy Mosques in 2018.

The network also encompasses key urban lines, including the Mashaer Train (serving pilgrims), the Riyadh Metro, the King Abdulaziz International Airport Railway in Jeddah, and the Princess Noura University Railway. In total, the railway network spans over 5,500 kilometers, demonstrating the Kingdom's commitment to building a comprehensive and interconnected transportation system.

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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.