The King Abdullah Port, inaugurated by Crown Prince Mohammad bin Salman bin Abdulaziz, is one of the achievements that will enhance the Kingdom's position on the map of world ports, thanks to its location on one of the most important maritime trade routes and as one of the pillars for transforming the Kingdom into a global logistic services hub.
The inauguration of the port comes days after the launch of the National Industrial Development and Logistics Program (NIDLP) by the Crown Prince, aiming to transform the Kingdom into a leading industrial power and a global logistics hub, which is one of the objectives of Vision 2030 to turn the Kingdom into a logistics platform, and move from the 49th place to the 25th place globally and the 1st place regionally.
The Kingdom's strategic location in the Middle East makes it in the important place in the logistics sector, thanks to its ports, airports, customs, warehousing and transportation. Thus, we can see the current integration process among different bodies in the Kingdom to achieve Vision 2030, translate its programs into developmental projects and launch incentives to support and encourage the private sector which is the strategic partner in development, as at the King Abdullah Port which is the first vital port owned by the private sector.
The logistic services industry is the backbone of global trade. Industry and trade cannot develop without development of logistic services. It is difficult to accomplish any import or export without logistic support.
The Kingdom seeks to raise non-oil exports to more than SR one trillion, and so the opening of the port has come as a logistic platform on the most important maritime trade route to contribute to increasing the Kingdom's exports, raising the competitiveness of Saudi exports, advancing the national economy, generating employment opportunities and attracting international investments into the ports and logistics sector.
In a very short time, the port has succeeded in attracting the largest international shipping companies and has become one of their most important international destinations. It currently provides integrated services to exporters and importers.
Moreover, the agreements signed during the inauguration, including the memorandum of understanding with the Saudi Airlines Cargo Company, will contribute for the first time to linking the Kingdom's ports sector with the airport sector.
This will enhance the Kingdom's position as a logistics platform and will enable ports to contribute effectively to the economic growth and social development of the Kingdom and to develop local and international trade.