Saudi Arabia rapidly advancing as global logistics hub

23/05/23

Saudi Arabia has increased its position in the World Bank’s Global Logistics Performance Index (LPI) by a substantial 17 places.

The LPI is an interactive benchmarking tool created by the World Bank to assist countries in identifying the challenges and opportunities they face in their performance on trade logistics. It allows for comparisons across 139 countries and for the first time in 2023 measures the speed of trade with indicators derived from big datasets tracking shipments.

Of the countries ranked, The Kingdom advanced to 38th place after successfully increasing its performance efficiency measured by several sub-indicators. These include logistics competence and quality, tracking and tracing and timeliness. Additional areas of improvement were in the customs department, which includes infrastructure and international shipments.

As a result, Saudi Arabia`s position as a global logistics hub has been enhanced by the strategies used, which have transformed the transport and logistics system. Furthermore, they have profoundly enhanced its operational efficiency across every sector’s performance in accordance with international indicators.

The improvements demonstrate the success of the ambitious goals of the recently launched National Transport and Logistics Strategy. They also reflect the success of the broad structural reforms and qualitative strategic initiatives introduced over the past few years.

Business Start Up Saudi Arabia offers a network of experts and specialists within the lifecycle of a business. We can offer expertise in Market Research and Assessment Saudi Arabia, Saudi Arabia Business Case, Saudi Arabia Business Model Development, Feasibility Study and Business Plan Saudi Arabia, Organizational and Operational Structuring Saudi Arabia, Saudi Arabia Sponsorship and Partnership, Company Formation Saudi Arabia among others.

Please click on the link to learn more about opportunities and possibilities in the Kingdom of Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.

Other News

BSUS News 30 - Thumb

Saudi and IBM developing AI in several Arabic dialects

Saudi Arabia and IBM have joined hands to pioneer a transformative project - a generative AI programme designed to embrace the rich tapestry of Arabic dialects.

This innovative venture, spearheaded...

Read more
BSUS News 29 - Thumb

Saudi Arabia to welcome European Chamber of Commerce

Saudi Arabia will see the first European Chamber of Commerce in the Gulf region open in Riyadh, according to the EU’s special representative for the Gulf region.

The inaugural European Chamber of...

Read more
BSUS News 28 - Thumb

Saudi Arabia's non-oil activity increasing in line with Vision 30

Saudi Arabia's non-oil business activity grew at a steady rate in April according to a recently published survey with domestic demand driving output.

The seasonally adjusted Riyad Bank...

Read more
BSUS News 27 - Thumb

Saudi Arabia attracting GCC companies to lucrative opportunities

Saudi Arabia is attracting an influx of companies from across the Gulf Cooperation Council (GCC) due to burgeoning prospects and transformative development sweeping through the Kingdom.

Moreover, the...

Read more
BSUS News 26 - Thumb

Saudi sovereign wealth fund holds SAR 3.5 trillion in assets

Saudi Arabia’s Public Investment Fund (PIF) has enjoyed a 55 percent increase in assets under management and is now valued at SAR 3.49 trillion (USD 925 billion).

According to figures from the US...

Read more
BSUS News 25 - Thumb

Saudi Arabia waives customs duties to boost industrial sector

Saudi`s Ministry of Industry and Mineral Resources has announced that customs duties on selected manufacturing products will be waived from April 1.

The decision aims to help businesses with valid import...

Read more
BSUS News 24 - Thumb

Saudi CEO`s forecast business optimism and economic growth

Saudi Arabian Chief Executive Officers have shown unprecedented optimism for the economic growth prospects of the Kingdom over the next year.

According to a study by Price Waterhouse Coopers (PWC)...

Read more
BSUS News 23 - Thumb

Saudi Arabia to add 250,000 hotel rooms, revises tourist targets

Saudi Arabia plans to add 250,000 hotel rooms by 2030 according to the Kingdom’s Ministry of Tourism, with 75,000 to be contracted to the private sector. Meanwhile, approximately 12 resorts on the Red...

Read more

Page Break