KUALA LUMPUR, Dec 12 -- The Saudi Logistics Hub via its latest global roadshow event has promoted investment opportunities and trading ties with Singapore.
The global roadshows also enhance the Saudi Logistics Hub’s credentials as a logistical gateway to Asia, Africa and Europe.
Singapore and Saudi Arabia enjoy a deep-rooted bilateral trade partnership, with Singapore being Saudi Arabia’s eighth largest export market last year, leading to bilateral trade surging 51 per cent between 2016 and 2018.
The Saudi Logistics Hub seeks to build on this existing relationship to create lucrative investment opportunities across the logistics sector.
Strong ties between both countries are a key component in connecting the key logistical hubs of the Asia Pacific region and the GCC region.
Saudi Arabia currently commands a 55 per cent share of the logistics market in the GCC region. Over the last decade, the country has invested more than US$100 billion in its transport and logistics infrastructure, resulting in a comprehensive nationwide network. (US$1 = RM4.16)
In 2019, Saudi Arabia saw a 47 per cent increase in the number of new foreign transport and logistics companies establishing operations, according to the Saudi Arabian General Investment Authority.
The Saudi Logistics Hub’s global roadshow agenda also includes the UAE, Jordan, Egypt, China, Japan, India and Germany.
-- BERNAMA
No comments:
Post a Comment