KSA-MINISTRY-TRANSPORT
19.12.2019 08:48:05 CET | Business Wire | Press release
Saudi Arabia has been ranked as the world’s top ease of doing business improver by the World Bank Group’s Doing Business 2020 report. The report indicates Saudi Arabia to have jumped 72 global positions in “Trading Across Borders”, an indicator which compares the time and cost of exporting and importing goods.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191218005853/en/
These improvements follow a raft of legislative reforms implemented by Saudi Logistics Hub —a government initiative established to drive growth in Saudi Arabia’s logistics sector. Reforms include the reduction of Customs clearance from seven to ten days to 24 hours, the reduction of the manual inspection rate at Customs from 89 percent to 48 percent, and the reduction of the number of documents required to import from 12 to 2 and to export from 8 to 2. These critical reforms facilitate Saudi Arabia’s drive to be positioned as one of the world’s most dynamic logistics hubs.
His Excellency Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Chairman of the Saudi Logistics Hub, said: “The recognition of Saudi Arabia’s progress by the World Bank confirms our sustained efforts to drive efficiency and competitiveness in the country’s logistics sector. The Saudi Logistics Hub is now inviting foreign investors and business partners to join our ambitious journey to consolidate Saudi Arabia’s status as a leading logistics hub.”
Earlier this year, the Saudi Logistics Hub announced a US$35 billion capital expenditure plan to transform Saudi Arabia into a global logistics center. Starting from November 2019, the Saudi Logistics Hub has set out on a two-month global roadshow, with a final stop in Germany in January 2020, to further promote investment opportunities in Saudi Arabia’s logistics industry. The global agenda included the UAE, Jordan, Egypt, China, Japan, Singapore, India, and Germany through which the government entity was able to successfully create a strong awareness about Saudi Arabia’s logistics sector.
Over the last 10 years, the country has invested more than US$100 billion into transport and logistics infrastructure, creating a comprehensive nationwide network. These impressive reforms are encouraging foreign investors to take part. The global roadshows witnessed successful meetings with Pantos Logistics, Samsung SDS in Korea, and PSA International Limited Pte Ltd in Singapore, as examples, which demonstrated Saudi Logistics Hub’s keenness to drive foreign partnerships across the Kingdom.
With 12 percent of global maritime trade passing through the Red Sea, Saudi Arabia aims to leverage its strategic location at the crossroads of three continents to increase export and re-export capacity, driving private sector participation in the industry. Transformation across the sector has already resulted in a 47 percent increase in the number of new foreign transport and logistics companies establishing operations in Saudi Arabia in 2019.
Today, Saudi Arabia has one of the fastest-growing logistics sectors globally, valued at US$19 billion and ranked third most attractive within emerging markets. As the world’s 18th largest economy and next host of the G20 in 2020, the country aims to increase the sector’s competitiveness, while also building international synergies to enhance domestic and cross-border trade infrastructure.
About the Saudi Logistics Hub
The Saudi Logistics Hub is a government initiative formed by leading transport and logistics entities in Saudi Arabia with a mandate to support growth in the sector and position the country as a strategic gateway at the crossroads of three continents in line with Vision 2030’s bold ambitions.
The Saudi Logistics Hub is transforming Saudi Arabia into a globally competitive and efficient export, re-export, and domestic connectivity platform through enhancing the sector’s infrastructure, processes, procedures, and regulatory frameworks.
This will enable logistics players to:
- Access one of the fastest-growing logistics markets in the world
- Benefit from recent reforms that reduce the time and cost of logistics operations
- Capitalize on specific investment opportunities
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20191218005853/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
MSCI Announces the Results of the MSCI 2026 Market Classification Review23.6.2026 23:42:00 CEST | Press release
MSCI released the results of the MSCI 2026 Market Classification Review. Key takeaways from this year's review include: Reclassification of Bulgaria from Standalone to Frontier Market status Assessment of shareholder transparency and coordinated trading concerns in the Indonesian and Turkish equity markets, acknowledging the announced steps undertaken by both markets to address these matters and noting the continued potential for future consultations on the appropriate treatment of these markets if credible progress is not observed Acknowledgement of the removal of floor prices in Bangladesh, with a caution that any reintroduction could prompt a consultation on reclassification from Frontier to Standalone Market status Ongoing monitoring of the implementation of measures aimed at improving the accessibility of the Korean equity market for international institutional investors Reminder on the reclassification of Greece from Emerging to Developed Market status at the May 2027 Index Revie
Elliptic Intelligence Used by the FBI in Action Against Huione, the $134 Billion Criminal Marketplace and Money Laundering Operation23.6.2026 23:28:00 CEST | Press release
Elliptic, the global leader in digital asset decisioning, today announced that its intelligence was used by the Federal Bureau of Investigation in today's action against the operators of Huione Group. The Justice Department announced the seizure of a cloud computing account used by subsidiaries of the Huione Group, a Cambodia-based corporate conglomerate. First exposed by Elliptic in July 2024, Huione Guarantee was a Telegram-based marketplace serving online fraudsters across Southeast Asia. Merchants sold money laundering services, stolen personal data, websites and other goods and services necessary to perpetrate so-called “pig-butchering” scams and other online fraud., By the time Huione was forced offline, it had received more than $31 billion in cryptoasset transactions, making it the largest illicit online marketplace ever recorded, more than 25 times larger than Silk Road and AlphaBay combined. Huione Group’s payments arm, Huione Pay, was also implicated in the laundering of pro
Rockwell Automation Site Named a World Economic Forum Global Lighthouse23.6.2026 23:13:00 CEST | Press release
Recognition highlights advanced manufacturing capabilities at Rockwell’s Singapore facility and the company’s role in scaling AI-driven transformation Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced its Singapore manufacturing facility has been named a member of the Global Lighthouse Network by the World Economic Forum (WEF). The designation recognizes this facility for applying advanced technologies at scale to deliver measurable improvements in productivity, quality and workforce enablement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623794856/en/ Rockwell Automation Site Named a World Economic Forum Global Lighthouse Rockwell’s Singapore site was recognized with distinction in the productivity category, reflecting its transformation into a highly flexible, data-driven operation. By deploying more than 50 digital and AI
NIKE, Inc. Announces Planned CFO Transition23.6.2026 22:17:00 CEST | Press release
David M. Denton named incoming Chief Financial Officer NIKE, Inc. (NYSE:NKE) today announced that David M. Denton will join the company as Executive Vice President and Chief Financial Officer, effective August 17. Matthew Friend will step down as Executive Vice President and Chief Financial Officer at that time and remain with the company through September 4 to support an orderly transition. Friend will participate in the company’s fourth quarter fiscal 2026 earnings call on June 30, as planned. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623328558/en/ David M. Denton | Incoming Executive Vice President & Chief Financial Officer, NIKE, Inc. Denton will lead Nike’s global finance organization, partnering with President and Chief Executive Officer Elliott Hill and the Senior Leadership Team to support disciplined execution, capital allocation, and long-term value creation. “Dave is a proven public-company CFO who knows h
Grid Dynamics Hosted XT26, Convening Capital Markets Technology Leaders on the Volatility of AI in Financial Services23.6.2026 22:05:00 CEST | Press release
Key Takeaways: Grid Dynamics hosted XT26, an invite-only forum focused on the volatility of AI in financial services. XT26 attendees and speakers included over 250 senior technology leaders from global financial institutions such as Bank of America, Citi, HSBC, UBS, JP Morgan, Morgan Stanley, and others. Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid Dynamics”), a premier AI transformation partner for the Fortune 1000, hosted XT26. The invite-only conference convened over 250 senior technology leaders from banking, hedge funds, and capital markets at Tower Hill, London. Now in its 10th year, the XT conference series has grown into one of financial services engineering's most respected peer forums in London, built on a single premise: pure thought leadership grounded in real-world experience, with no sales pitches, and no vendor presentations. Just practitioners who are actually doing the work. This press release features multimedia. View the full release here: https://www.businessw
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom