SAUDI ARABIA WELL POSITIONED TO EMERGE AS A GLOBAL LOGISTICS HUB
Date
5/16/2024 4:38:15 AM
(MENAFN- Oxford Business Group) The competitive advantages that will support Saudi Arabia’s efforts to become a global logistics and transport hub were mapped out by Farooq Shaikh, CEO of LogiPoint, in an interview he gave recently to Oxford Business Group’s online broadcasting channel, Global Platform.
The video is available to view in full at
In the interview, Shaikh highlighted Saudi Arabia’s geostrategic location, noting that the Kingdom’s central position on international trade routes meant it is well placed to provide wide-ranging support in the event of a crisis or unexpected event.
“Saudi Arabia, due to its geography, is the gateway to three different continents, where we can reach over 1bn people in fewer than two days of sailing time,” he said. “We are not only on the main east-west trade route, but also at the centre of it, so that we can provide a buffer to anyone who is impacted by black swan events.”
The national drive is already under way to put environmental, social and governance (ESG) principles at the heart of future economic expansion.
Shaikh said that while initiatives taken by the government and private sector presented challenges for socioeconomic and environmental development, they had also provided opportunities to implement changes, including investing in green technologies, energy efficiency and minimising waste.
“This is reflected in how Vision 2030 emphasises the environmental, social and governance goals of reducing the Kingdom’s carbon footprint and net emissions, increasing the ratio of renewable energy production and reducing global methane emissions,” he told OBG. “Similarly, providing a healthy lifestyle supported by training and education, and adequate social protection have been key initiatives of Vision 2030.”
Marc-André de Blois, OBG’s Director of PR and Video Content, said the interview with Shaikh showed that Saudi Arabia’s efforts to tap high-growth-potential sectors of the economy are delivering results.
“The Covid-19 pandemic raised awareness of the importance of connectivity and the vital role played by the logistics industry in maintaining essential supply chains,” he said. “Saudi Arabia benefits from several competitive advantages, which include a prime location along global trade routes and a youthful population that will be well placed to drive the digital economy forward. With transport and logistics both key components of Vision 2030, we expect these sectors to be major contributors to new economic growth, supported by innovation and investment.”
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