Saudi Maritime Congress to steer shipping and logistics sector
Leading government authorities such as Saudi Customs and Saudi Ports Authority will share insights on how to deliver strategies under Saudi Vision 2030 at the Saudi Maritime Congress from March 11-12 in Riyadh.
Major companies such as Bahri and Saudi Aramco Marine Department, which play a key role in the implementation of the latest development initiatives across Saudi Arabia, will also attend.
Ahmed Al-Hakbani, governor of the General Customs Authority, said: “The shipping sector is an essential partner for Saudi Customs and we are keen to be an essential contributor in providing insights regarding recent developments and upcoming initiatives, which aim to improve the trade process and thereby contribute to national and international economic growth.”
Abdullah Aldubaikhi, CEO of Bahri, said: “Bahri’s participation in this major event will further strengthen our resolve to establish the Kingdom as one of the world’s leading logistics and transportation hubs.”
The oil and gas sector is also primed to increase business growth from the local market by up to 75 percent by 2030. Some of these initiatives are led by Saudi Aramco, which aims to develop a more competitive local supply chain by requiring suppliers to secure 70 percent of the content of their products from local sources.
Among the latest measures relevant to the shipping sector are reforms that will allow foreign shipping agencies to hold 100 percent ownership of their companies and operate independently under a foreign investment license.
Source: Arab News