Al-Jasser: 25 billion riyals in investments in transport privatization and 16 new opportunities
Minister of Transport and Logistics, Engineer Saleh Al-Jasser, announced significant progress in the partnership with the private sector, revealing the availability of 16 new investment opportunities in the transport and logistics sector, as part of ongoing efforts to enhance the efficiency of this vital sector and enable it to lead economic development in the Kingdom.
Record figures in private sector investments
During his participation in the fourth edition of the Public Investment Fund and Private Sector Forum, Al-Jasser explained that total private sector investments in the transportation and logistics sector have exceeded 250 billion riyals. The minister emphasized that privatization projects alone have attracted 25 billion riyals of these investments, noting that several privatization projects of this value have been finalized, reflecting the growing confidence of investors in the Kingdom's regulatory and legislative environment.
National Strategy and Vision 2030
These figures are the culmination of efforts undertaken within the National Transport and Logistics Strategy, launched by the Saudi Crown Prince, which aims to solidify the Kingdom's position as a global logistics hub connecting three continents. The system is developing advanced and sustainable infrastructure that supports the objectives of Vision 2030, and international indicators point to the success of the steps taken by the Kingdom in this regard, contributing to its improved ranking in global logistics performance indicators.
An enabling sector for the national economy
Al-Jasser emphasized that the transportation and logistics system does not operate in isolation from other sectors, but rather constitutes the "backbone" and primary enabler of various economic and social sectors. He explained that the development of this sector has a direct and positive impact on vital sectors such as industry and mining, supports tourism objectives, facilitates trade, and plays a pivotal role in serving pilgrims performing Hajj and Umrah, in addition to its effective contribution to improving the quality of life and generating jobs for citizens.
The wisdom of the relationship with investors
In the context of enhancing transparency and partnership, the Minister noted that the Ministry has worked diligently to govern its relationship with the private sector and establish effective communication mechanisms. This was exemplified by the creation of the Logistics Partnership Council, a strategic platform that holds regular meetings with the participation of all relevant stakeholders. Through this council, views are exchanged transparently, feedback is provided on regulations, legislation, and new developments, and avenues for joint cooperation are explored to enhance the sector's efficiency and competitiveness, thus ensuring an attractive and stable investment environment.
