The Global Logistics Forum in Riyadh concluded with the signing of over 60 strategic partnerships and memorandums of understanding, valued at more than SAR 16 billion ($4.3 billion). The 2024 edition aimed to enhance international cooperation and reshape the global logistics landscape.
Saudi Deputy Minister of Transport and Logistics Services, Dr. Rumaih Al-Rumaih, emphasized the forum’s role as a collaborative platform to boost the logistics system’s efficiency, resilience, sustainability, and profitability. He highlighted the Kingdom’s strategic position at the crossroads of three continents to enhance its leadership in global logistics.
Significant Agreements
The Ministry of Transport and Logistics Services, alongside the Ministry of Investment, announced key agreements, including a MoU with FedEx to explore investment opportunities in Saudi logistics. Other notable agreements were with Sadel Group for cold storage facilities in Jeddah, and with Pacific International Lines and the Saudi Ports Authority for integrated logistics and multimodal transport services.
Additionally, partnerships were signed with the National Unified Procurement Company for Medical Devices and Supplies to establish regional centers, and with the Saudi Industrial Development Fund to support industrial transformation through enhanced transport and logistics services.
Major Announcements and Initiatives
Agility Logistics announced the expansion of its warehouses and a new agreement with the Saudi Railways Company. Saudi Cargo partnered with the Second Airport Group to enhance air cargo services. The forum also launched new scholarship and training initiatives to build sector-specific skills, in collaboration with various entities including the Saudi Group and Saudi Railways Company.
The Saudi Logistics Academy announced training initiatives with NEOM, Qassim University, and Al-Salihiya Logistics Agency.
Economic Zones and Innovation
The General Authority of Civil Aviation signed agreements with Alat, Bahri, and Danfoss, and issued licenses for logistics service zones. The Economic Cities and Special Zones Authority awarded certificates for new centers in King Abdullah Economic City and signed a MoU with Saudi Post for a new addressing system.
Notably, the Saudi Railways Company successfully tested the first hydrogen-powered train in the Middle East, following an announcement by the Saudi Minister of Energy.
The forum addressed crucial topics such as global market enablement, logistics infrastructure investment, and resilience against Red Sea disruptions. It also discussed the “New Era of Energy Ports” and talent development for future industries. The event featured numerous ministers, officials, and industry leaders, along with 130 speakers and 80 exhibitors from 30 countries.
