Saudi Arabia's Logistics Sector Sees Unprecedented Growth
(MENAFN) According to Abdul Rahman Al-Askar, the director of the industrial production unit of the Saudi Authority for Industrial Cities and Technology Zones, Saudi Arabia's logistics sector has seen an unprecedented growth in recent years. The volume of investment has currently reached SR2.1 billion (USD559 million), facilitated by 208 logistical contracts and leased areas measuring to 3.2 million sq. m under the authority. The plan for the sector includes activating logistical platforms approved by the Supreme Committee for Transport and Logistics Services.
Presently, the authority, also known as Modon, has 34 logistical platforms and 17 industrial and logistical cities. Some have already been activated while others are still under planning and development. The total number of industrial contracts amounts to 5,895, covering a total area of 74 million sq. m.
Al-Askar also drew attention to the National Productivity Program, which aims to achieve national targets to enable factories in Saudi Arabia to harmonize indicators of national transformation and adopt the Fourth Industrial Revolution. The program provides free advisory services and builds transformation plans that contribute to achieving the highest production efficiency rates. It also works on applying the principles of operational excellence with the support of the National Industry Development and Logistics Program and the Ministry of Industry, inspiring other manufacturers to adopt and apply these principles and technologies.
Majed Al-Argoubi, the CEO of Modon, held discussions with investors on various challenges they are facing in the industrial sector and how to deal with them with appropriate solutions. Al-Argoubi also signed an agreement with the CEO of General Electric in the Kingdom and Bahrain, Hisham Bahkali, to include the firm's plants complex on an area of 120,000 sq. m in the Eastern Province under the supervision of the authority.
Overall, the logistics sector in Saudi Arabia is experiencing significant growth, with increasing investment and plans to activate logistical platforms, expand industrial and logistical cities, and adopt new technologies to improve productivity rates. The National Productivity Program is also playing a vital role in promoting operational excellence and achieving national targets.
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