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Mawani, Globe Group Ink Deal to Build Integrated Logistics Park at Jeddah Islamic Port

A view of Jeddah Islamic Port. (SPA)
A view of Jeddah Islamic Port. (SPA)
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Mawani, Globe Group Ink Deal to Build Integrated Logistics Park at Jeddah Islamic Port

A view of Jeddah Islamic Port. (SPA)
A view of Jeddah Islamic Port. (SPA)

The Saudi Ports Authority (Mawani) has signed a contract with Globe Group, the national leading company in marine services, to develop a 135,000 m2 integrated logistics park and re-export zone at Jeddah Islamic Port, aiming to boost the competitive edge of the Kingdom’s trade gateway and enabling the national logistics industry.

This partnership is part of Mawani’s initiatives to set up world-class logistics facilities within and outside port areas, in a bid to position the Kingdom as a global logistics hub that links three major continents, besides offering best-in-class logistics services which fulfill the Kingdom’s national development plans in line with the objectives of the National Transport and Logistics Strategy (NTLS).

Mawani is keen on advancing the private sector’s contribution to the economic development, bolstering diversification, and enhancing Saudization at Jeddah Islamic Port in specific and the logistics sector in general.

To secure its place among the top 10 ports of the world, Jeddah Islamic Port is currently undergoing a wave of extensive transformation to upgrade its operations and capacity through development projects and concessions in collaboration with strategic partners aimed at improving the operational efficiency of container terminals, as well as deepening approach channels, turning basins, and waterways in addition to constructing new berths with deeper drafts to accommodate giant vessels.

Since it’s considered to be the Kingdom’s top import and export destination, Jeddah Islamic Port receives 75% of the Kingdom’s maritime trade and transshipment volumes. With exceptional operating capabilities and unmatched offered services, the port is the Red Sea’s top re-export hub as well.

Recently, Mawani signed deals with a total exceeding SAR2 billion with local and global logistics giants, including Maersk, Bahri, CMA CGM, LogiPoint, and DP World, to build five logistics parks at Jeddah Islamic Port to boost its competitive and logistical standing, with the potential to create 6,000 direct and indirect employment opportunities in the initial phase of execution.

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Taiwan Expects Small Impact from Trump Tariffs on Chip Exports

A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo
A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo
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Taiwan Expects Small Impact from Trump Tariffs on Chip Exports

A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo
A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo

Taiwan only expects a small impact from any tariffs imposed by the incoming government of US President-elect Donald Trump on semiconductor exports given their technological superiority, Economy Minister Kuo Jyh-huei said on Friday.
Home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co., the island is a key link in the global technology supply chain for companies such as Apple and Nvidia, according to Reuters.
But Taiwanese policymakers have warned new US tariffs against all countries from the Trump administration could curb economic growth this year for the export-dependent economy.
Trump has pledged a blanket tariff of 10% on global imports into the United States and a far higher 60% tariff on Chinese goods.
In late November, he specifically pledged a 25% tariff on imports from Canada and Mexico when he takes office on Jan. 20.
Asked at a news conference about the impact on Taiwan's export orders of Trump's tariffs, Kuo said it would not much affect the chip sector.
“For our semiconductors and advanced processes, there is an advantage of technological leadership and that cannot be replaced, and so the impact will be small,” he added.
Taiwan will also help companies relocate supply chains to the United States as needed, away from where there might be high import tariffs, Kuo said.
“Now we see that we should be able to develop the aerospace supply chain industry in the United States, and do some joining up with the US aerospace companies, so that some of Taiwan's aerospace research and development centres can be moved there,” he added.