Saudi MAWANI Adopts Regulations in line with Commercial Maritime System

MAWANI seeks to achieve the goals of the national economic vision and make the Kingdom a leading international maritime hub. (SPA)
MAWANI seeks to achieve the goals of the national economic vision and make the Kingdom a leading international maritime hub. (SPA)
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Saudi MAWANI Adopts Regulations in line with Commercial Maritime System

MAWANI seeks to achieve the goals of the national economic vision and make the Kingdom a leading international maritime hub. (SPA)
MAWANI seeks to achieve the goals of the national economic vision and make the Kingdom a leading international maritime hub. (SPA)

The Saudi Ports Authority (MAWANI) has revealed a new set of regulations governing the activities of shipping agents in the Kingdom’s maritime sector, which comes in line with the objectives of the National Strategy for Transport and Logistics Services.

The strategy aims at enhancing the services provided by shipping agents, strengthening shipping lines and supporting exporters and the national economy.

The regulations, which comply with the Commercial Maritime Law, will replace all previous versions of the law, and will come into effect on Aug. 5.

MAWANI is implementing an ambitious plan to stimulate exports and imports and meet the requirements of national development, by providing an effective and integrated port network.

The Authority seeks to achieve the goals of the national economic vision and make the Kingdom a leading international maritime hub.

In a press release, MAWANI said that the new regulations include key performance indicators that will assess shipping agents. They will also set the general rules that govern the requirements and procedures for obtaining licenses and permits, and regulate the contractual relationship between the shipping agent and other concerned parties.

Meanwhile, the Transport General Authority, represented by the General Administration of Control and in cooperation with the concerned authorities, carried out 181,000 inspection operations in July, on land and sea transport activities.

The field control revealed that during the month of May, compliance with land transport regulations reached 91 percent, while compliance with maritime transport regulations reached 99 percent.

The authority monitored more than 19,000 violations during the field campaign, while the automated monitoring operations recorded 22,900 violations in the Riyadh region.



GCC Worker Remittances to Foreign Destinations Reach $131.5 Billion

The volume of workers' remittances from GCC countries is the highest globally. Asharq Al-Awsat
The volume of workers' remittances from GCC countries is the highest globally. Asharq Al-Awsat
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GCC Worker Remittances to Foreign Destinations Reach $131.5 Billion

The volume of workers' remittances from GCC countries is the highest globally. Asharq Al-Awsat
The volume of workers' remittances from GCC countries is the highest globally. Asharq Al-Awsat

The total remittances of workers in the Gulf Cooperation Council (GCC) countries to foreign destinations amounted to $131.5 billion by the end of 2023, according to the latest data released by the GCC Statistical Center.

The volume of workers' remittances from GCC countries is the highest globally, followed by remittances from the United States

The center's report indicated that this marked a decrease by approximately $0.5 billion compared to 2022, a 0.4 percent decline. This comes after significant increases recorded in 2021 and 2022, which saw growth rates of 9.2 percent and 3.8 percent, respectively.

The share of these remittances as a percentage of the GCC's Gross Domestic Product (GDP), at current prices, declined from 8.1 percent in 2020 to six percent in 2022, before experiencing a slight increase in 2023, settling at 6.2 percent.