Saudi Arabia News
Infrastructural Advancement: Government is introduced trade zones such as Jizan Economic city with additional Duty Exemptions, Subsidies and Benefits, New infrastructure such as Jazan Airport, Neom Airport, SPARK zone, expansion in the Red Sea Gateway Terminal (RSGT), Introduction of commercial routes linking Seaports and airports to transport and re-export goods are few of initiatives by government to expand KSA logistics Operations making it a global transshipment hub aligned to National Logistics Policy.
Increasing scope of Retail and E commerce logistics: KSA Government opened the retail and wholesale sectors to 100% foreign ownership and has launched a large privatization programme. This is primarily done to reduce the Oil Revenues dependency and expansion to other sectors aligned with Vision 2030. Due to COVID, People prefer online purchases more than Physical visit to the stores making E- Commerce and online retailing quite popular in KSA. Big retailers for instance, Carrefour and Abu Dawood reported surge in online sales of up to 200-300% in 2020 and further expect an escalating growth trajectory in the long-term.
Advancement in Technology: Technologies such as GPS tracking, RFID Tags and control towers are still not very popular in Saudi Arabia and are used by companies with additional costs as per the Client requirements. Other upcoming technologies include real time fuel management system, Platooning, ASRS, warehousing management system, cargo management systems and communication and information systems such as EDI which can be used to reduce paperwork and minimize time taken for compliance procedures.
Analysts at Ken Research in their latest publication “Competition Benchmarking of Top Logistics Players in KSA in Transportation, Warehousing, 3PL, International Express, Domestic Express, Automotive, Pharma, Oil and Gas and Retail Logistics” believe that the Logistics Market in Saudi Arabia is expected to grow due to Automation of Import Export Procedures on Seaports reducing congestion ad Clearance time, Introduction of new Airports and Economic Cities for logistics Operations in Saudi Arabia.
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For more information on the research report, refer to below link:-
Logistics industry Saudi Arabia
Related Reports:-
UAE Cold Chain Market Outlook to 2025 – By Cold Storage (Ambient, Chilled and Frozen Warehousing) and Cold Transport (Land, Sea and Air), By End User (Dairy Products, Meat and Seafood, Pharmaceuticals, Fruits and Vegetables and Others) and By Ownership (Integrated and Contract Logistics)
The cold chain market in UAE is at growth stage. It has consolidated its position as a global transshipment hub due to its central location in the GCC region. The high dependence of the country on imports to meet its food requirements has necessitated the development of cold chain facilities. In the review period 2014-2019, the UAE cold chain market has increased at a positive CAGR of 6.6% largely due to rising food and pharmaceutical imports, growth of the dairy industry, increasing number of modern grocery retail stores, government initiatives to reduce dependence on oil-exports and others.
Competition Benchmarking in UAE Logistics Market Outlook to 2025: Driven by High Ease of Doing Business, Technology Enhancement and Status of UAE as a Trans-shipment Hub
Levels of domestic manufacturing in the country have remained very low since 2009. On the account of this industries have majorly required freight forwarding services from logistics service providers during this period. This has left very limited scope for end-to-end logistics services in country. Moreover, small size of the domestic manufacturing has forced the logistics companies to serve the international markets in the recent years which have made cost effectiveness very important.
Saudi Arabia Dry Logistics and Warehousing Market Outlook to 2025 – Warehousing Automation and Investment within Transport Infrastructure to Drive Market Revenue)
The market showcased a volatile growth trajectory. Dry logistics revenue declined at a CAGR of single digit CAGR during 2015-2019 due to oil price shock further leading to an economic slowdown during 2016-2017 period. Saudi Arabia is located at the crossroads of significant international trade route that connects Asia, Europe and Africa. This strategic location provides the Kingdom with a unique advantage over other nations thus, enabling it to become a leading regional logistics hub. In April of 2016, Saudi Arabia announced its Vision 2030 which includes transforming the Kingdom into a preferred logistics hub. It is making continuous efforts to make imports and exports processes more streamlined. Additionally, government is restructuring the regulations and structures logistics sector government and opening the way for market liberalization and private sector participation. Expansion of industrial cities continues to offer opportunities for foreign investors towards developing the non-oil manufacturing base, warehousing & logistics segments. For instance, Pfizer opened a manufacturing facility in the King Abdullah Economic City in the year 2017. Non-oil manufacturing growth is facilitated by launch of National Industrial Development and Logistics Program (NIDLP) in Jan 2019 by KSA government. Various companies are investing in Special bulk trucks and heavy lift movements to diversify their Revenue streams and Operations. For instance, Bahri launched new dry-bulk carrier ‘Sara’ & increased their total fleet of dry-bulk carriers to 6 ships in KSA.
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