Saudi Arabia’s Ministry of Transport and Logistic Services, the Ministry of Investment, and the Saudi Ports Authority (Mawani) have signed a memorandum of understanding with Singaporean shipping company Pacific International Lines (PIL).
As part of the Global Logistics Forum, the MoU aims basically to strengthen the maritime and logistics sector by exploring promising opportunities in logistics zones, free economic zones, and dry ports.
The deal will particularly focus on improving rail connectivity, shipping patterns, storage, and distribution, the Saudi Press Agency (SPA) reported.
According to the provisions of the agreement, the involved entities will develop feeder ship services in local and regional markets and provide training to Saudi logistics professionals.
Moreover, it will represent a valuable opportunity to bolster collaboration and exchange of knowledge.
Interestingly, they will review PIL’s potential to expand through a regional headquarters in Saudi Arabia.
The partnership perfectly aligns with Mawani’s pursuit to establish the Kingdom as a global logistics hub linking three continents.’
Global Logistics Forum
The Global Logistics Forum took place from October 12 to 14, at the King Abdullah Financial Center in Riyadh.
The three-day forum represented a valuable platform gathering pioneering local and global companies and most elite experts in logistics sectors.
Organized by the Ministry of Transport and Logistic Services, the forum offered a promising opportunity for logistics companies and businessmen to collaborate and shape the sector’s future.
The event involved significant sessions and meetings covering the latest technological developments in the logistics sector and infrastructure investments.
Moreover, it witnessed a great turnout with the participation of four ministries, up to 2000 attendees, and more than 10000 visitors.
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