13 Entities Highlight Development of Saudi Logistics Services at Shanghai Expo

The Saudi pavilion at the International Transportation and Logistics Expo (CITLE) in Shanghai, China. (Asharq Al-Awsat)
The Saudi pavilion at the International Transportation and Logistics Expo (CITLE) in Shanghai, China. (Asharq Al-Awsat)
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13 Entities Highlight Development of Saudi Logistics Services at Shanghai Expo

The Saudi pavilion at the International Transportation and Logistics Expo (CITLE) in Shanghai, China. (Asharq Al-Awsat)
The Saudi pavilion at the International Transportation and Logistics Expo (CITLE) in Shanghai, China. (Asharq Al-Awsat)

Thirteen Saudi entities working in the transportation and logistics services are highlighting the Kingdom’s infrastructure development in the maritime, land, air and rail sectors at China’s International Transportation and Logistics Expo (CITLE), underway in Shanghai from June 25-27.

Saudi Arabia witnessed rapid progress in the transportation and logistics services sector after it developed a national strategy in 2021 that defines the country’s ambitious path and goals to consolidate its position as a global logistics hub linking the three continents.

Entities participating in the Shanghai exhibition include the Ministry of Transport and Logistics Services, the Ministry of Investment, the National Industrial Development and Logistics Services Program (NIDLP), the General Authority of Civil Aviation, the Transport General Authority, as well as the Zakat, Tax and Customs Authority, and other bodies concerned with transportation and logistics services.

The participation of Saudi government entities aims to shed light on the progress achieved and work to promote cooperation with local and international markets with the aim to develop the sector, take advantage of the Kingdom’s distinctive geographical location, and enact regulations and legislation to create a stimulating and attractive investment environment that will transform Riyadh into a global logistics platform.

The expo is considered Asia’s leading trade fair for logistics, transportation, information technology and supply chain management. It also serves as a business platform for the logistics and transportation industry and features comprehensive programs and a number of conferences.



Saudi Arabia's Non-oil Business Sector Resilient in March

The Saudi capital Riyadh. AFP
The Saudi capital Riyadh. AFP
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Saudi Arabia's Non-oil Business Sector Resilient in March

The Saudi capital Riyadh. AFP
The Saudi capital Riyadh. AFP

Saudi Arabia’s non-oil private sector activity grew rapidly in March with new orders boosted by lower prices and improved economic conditions, although the rate of growth slowed from January’s near 14-year high, a survey showed on Monday.

The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) edged down to 58.1 in March from 58.4 in February but remained far above the 50 mark signaling growth.

The new orders subindex slipped to 63.2 in March from February’s blistering 65.4 reading, Reuters reported.

Despite the slower momentum, businesses engaged in stockpiling, anticipating sustained sales growth.

Employment growth was driven by increased sales volumes and efforts to boost capacity. The survey data pointed to the best quarter for job creation in over 12 years.

Naif Al-Ghaith, Riyad Bank’s chief economist said that improved business conditions are supported by government efforts to enhance regulatory frameworks and infrastructure investments, paving the way for greater private and foreign investments.

Saudi Arabia’s Vision 2030 plan to diversify its economy away from hydrocarbons aims to increase the non-oil sector’s contribution to GDP to 65 percent by 2030. It is currently over 50 percent.

Input cost inflation eased to a four-year low in March, prompting companies to reduce selling prices for the first time in six months amid strong market competition.

Backlogs of work increased sharply, the fastest since August 2018, due to higher orders and constrained capacity.

The survey showed a marked softening of business activity expectations for the year ahead across the non-oil economy, however.