https://arab.news/zdxfv
RIYADH: The transport and logistics sector represents one of the key pillars of the Kingdom鈥檚 economic diversification strategy, said Saudi Minister of Transport and Logistics Saleh Al-Jasser.
The minister highlighted the opportunities available in this sector in the Kingdom at the recent International Investment Summit held in Dhaka.
Al-Jasser said the Kingdom鈥檚 transport and logistics sector is undergoing rapid transformation. He highlighted the Kingdom鈥檚 National Transport and Logistics Strategy at the event, which was attended by investment companies and experts in the field.
抖阴短视频 expects its new transport and logistics strategy to generate SR550 billion ($150 billion) in investments by 2030 in areas such as public transport, railways, and airports expansion and development.
The government would provide 35 percent of the needed investments, and the rest would come from private investors. The strategy would have multiple benefits on economic activities because it would connect many sectors, such as Hajj and tourism, as well as industries.
A host of projects are planned to help achieve the strategy鈥檚 economic and social goals, including the launch of a second national airline, along with improved governance to enhance the work of the organizations involved. The new strategy also seeks to improve the capabilities of the Kingdom鈥檚 air cargo sector by doubling its capacity to more than 4.5 million tons. It includes a land bridge project that will span more than 1,300 km and connect the Kingdom鈥檚 ports on the coast of the Arabian Gulf with those on the Red Sea coast. It will have the capacity to transport more than 3 million passengers and 50 million tons of freight annually, opening up new opportunities in the areas it passes through.
Al-Jasser also visited the Chittagong Port, Bangladesh鈥檚 largest port, and held meetings with key officials to discuss ways to enhance cooperation in the sector.
Saudi investment
Saudi company Engineering Dimensions will invest $1.75 billion in Bangladesh, a Bangladesh official was quoted as saying by the local media.
Sirajul Islam, chairman of Bangladesh Investment Development Authority, said the Saudi company will jointly invest in two companies in the country.
Engineering Dimension has already invested in power generator production and a large scale cement factory.
Local media quoted Al-Jasser as saying many public and private companies of 抖阴短视频 were keen to invest in Bangladesh in infrastructure development, power, port, energy and renewable energy sectors.