The Global Logistics Forum, which concluded in Riyadh on Monday, saw the signing of over 60 strategic local and international partnerships and memorandums of understanding, with a total value exceeding SAR 16 billion ($4.3 billion).
In its 2024 edition, the forum aimed to boost international cooperation in the logistics sector, with the goal of reshaping the global logistics services map.
Saudi Deputy Minister of Transport and Logistics Services Dr. Rumaih Al-Rumaih stated that the forum “serves as a platform for collaboration” within the logistics system, with the goal of enhancing efficiency, resilience, sustainability, and profitability in today’s world.
According to Al-Rumaih, the agreements announced reflect the significance of the forum and its importance for the future of the sector, showcasing the transformative impact of cooperation and highlighting the Kingdom’s leadership role in the global logistics services sector.
“We aim to leverage our unique strategic position at the crossroads of three continents,” he added.
Medical supply agreements
The Ministry of Transport and Logistics Services, in collaboration with the Ministry of Investment, announced a series of significant agreements and memorandums of understanding.
Among the most prominent was a MoU with FedEx to explore investment opportunities in Saudi Arabia’s logistics and transport sector, agreements with Sadel Group to establish cold storage warehouses in Jeddah (western Saudi Arabia), and other agreements with Pacific International Lines and the Saudi Ports Authority (Mawani) to explore new opportunities in integrated logistics services and multimodal transport.
The Ministry of Transport and Logistics Services also announced the signing of memorandums of understanding with the National Unified Procurement Company for Medical Devices and Supplies (NUPCO) to establish new regional centers for supplying medical equipment and with the Saudi Industrial Development Fund to collaborate in developing transport and logistics services to support industrial transformation.
Key announcements and partnerships
The event witnessed major announcements from global sector leaders. Agility Logistics revealed the expansion of its warehouses in Saudi Arabia and signed an agreement with the Saudi Railways Company.
Additionally, Saudi Cargo signed a new partnership with the Second Airport Group to improve air cargo services.
New scholarship and training initiatives were launched during the event. The Ministry of Transport and Logistics Services announced agreements to send a group of national talents abroad for training and capacity-building to meet the needs of the sector in the Kingdom.
The agreements were made in collaboration with the Saudi Group, Airport Holding, The Helicopter Company, The Executive Company, and Saudi Railways Company.
The Saudi Logistics Academy also announced a series of training initiatives in cooperation with NEOM, Qassim University, and Al-Salihiya Logistics Agency.
Economic zones and hydrogen trains
The General Authority of Civil Aviation (GACA) unveiled a series of agreements with companies such as Alat, Bahri, and Danfoss.
It also granted licenses for integrated logistics service zones to several entities. The Economic Cities and Special Zones Authority awarded certificates to Tharawat Group and Masarat Logistics Services for establishing new centers in King Abdullah Economic City.
It also signed a memorandum of understanding with Saudi Post to develop a new addressing system that will facilitate business operations in Saudi Arabia’s special economic zones.
In addition, CEO of the Saudi Railways Company Dr. Bashar Al-Malik revealed the success of Saudi Arabia’s experiments with the first hydrogen-powered train aimed at evaluating the suitability of this technology for the Kingdom’s environment.
This comes after Prince Abdulaziz bin Salman, the Saudi Minister of Energy, announced last year during his speech at the opening of Climate Week that Saudi Arabia would have the first hydrogen-powered train in the Middle East.
The inaugural edition of the Global Logistics Forum addressed key topics in the transport and logistics sector, such as enabling global markets, investing in logistics infrastructure, enhancing the resilience of logistics services in the face of disruptions in the Red Sea region, in addition to discussing the “New Era of Energy Ports” and empowering talents to develop the industries of the future.
The event was held in the presence of a large number of ministers, senior officials, leaders of international organizations, industry associations, experts, academics, and analysts, and featured 130 speakers and 80 exhibitors from 30 countries.
