Saudi Arabia has opened a new trade path by approving the establishment of duty-free markets in airports, seaports, and land ports. This supports the Kingdom’s aspirations for infrastructure development, logistics support and providing a unique business environment in the transport sector.
The Cabinet, chaired by King Salman bin Abdulaziz on Tuesday at Al-Salam Palace, approved the establishment of duty-free markets in airports, seaports, and land ports.
The Cabinet decision permits sale, in these markets, to passengers arriving and departing from the Kingdom.
Establishing duty-free markets aligns with Saudi Arabia’s plans for strategic transformation in providing support services and operational processes.
The Kingdom’s Transport Ministry is focused on upgrading provided services, developing the operational aspect in line with future plans, building strong alliances and providing a distinctive travel experience through integrated work and by investing with the private sector to achieve the highest standards of efficiency and operation.
In other news, Saudi Arabia is scheduled to inaugurate on Wednesday the Port of Jazan Primary and Downstream Industries (JPDI), located in the south of the Kingdom on the Red Sea, which represents one of the most prominent global trade corridors.
The inauguration is set to be sponsored by Governor of Jazan Prince Mohammed bin Nasser bin Abdulaziz.
The Royal Commission in Jubail and Yanbu, represented by the Jubail and Yanbu Industrial Services Company, and Hutchison Ports had announced the signing of an agreement to invest and operate JCPDI Port, which consists of world-class, multipurpose terminals within the Jazan City for Primary and Downstream Industries (JCPDI).
The port is located on the international trade corridor across the Red Sea, near the Bab al-Mandab Strait, the Horn of Africa, and on China’s Belt and Road Initiative.
Establishing the port is an important step in the Kingdom’s journey towards economic development and diversification of sources of income. The port, as a logistical gateway, will serve to be a great supporter of the city’s economic, industrial, and logistical renaissance.
