Saudi to construct 19 logistics service zones worth 29 bn

Saudi Arabia is pushing ahead with the construction of 19 logistic service zones worth nearly 29 billion Saudi riyals ($7.7 billion) in investment value in partnership with the private sector. Saudi has already established several such zones at key seaports and has invited the private sector for similar projects, said official reports. The country aims to ‘create a solid logistics base’ to become one of the largest hubs in this field in line with the country’s economic diversification scheme ‘Vision2030.’ Heavy investment in logistics and transport in the Kingdom has largely expanded the sector and boosted its contribution to GDP to 16 percent in 2021 and now the country is working to establish 19 logistics zones in Riyadh, Jeddah, King Abdullah Economic City and other areas in the Kingdom. Tese projects provide investment opportunities to the private sector worth nearly 29 billion riyals, reports added.