Riyadh – Sharikat Mubasher: The Global Logistics Forum (GLF24), which came to a conclusion in Riyadh on Monday, attended by over 13,000 visitors, saw the signing of 65 strategic local and international partnerships and memorandums of understanding (MoU), with a total value exceeding SAR 16 billion ($4.3 billion).
The GLF in its 1st edition aimed to boost international cooperation in the logistics sector, to reshape the global logistics services map.
The inaugural edition of GLF24 addressed key topics in the transport and logistics sector, such as enabling global markets, investing in logistics infrastructure, and enhancing the resilience of logistics services in the face of disruptions in the Red Sea region, in addition to discussing the “New Era of Energy Ports” and empowering talents to develop the industries of the future.
The event welcomed a large number of ministers, senior officials, leaders of international organizations, industry associations, experts, academics, and analysts, and featured 130 speakers and 80 exhibitors from 30 countries.
During the 3-day event, The Ministry of Transport and Logistics Services, in collaboration with the Ministry of Investment, announced a series of significant agreements and partnerships.
Among the most prominent was an MoU with FedEx to explore investment opportunities in Saudi Arabia’s logistics and transport sector, agreements with Sadel Group to establish cold storage warehouses in Jeddah (western Saudi Arabia), and other agreements with Pacific International Lines and the Saudi Ports Authority (Mawani) to explore new opportunities in integrated logistics services and multimodal transport.
The Ministry of Transport and Logistics Services also announced the signing of memorandums of understanding with the National Unified Procurement Company for Medical Devices and Supplies (NUPCO) to establish new regional centers for supplying medical equipment and with the Saudi Industrial Development Fund to collaborate in developing transport and logistics services to support industrial transformation.
The event witnessed major announcements from global sector leaders. Agility Logistics revealed the expansion of its warehouses in Saudi Arabia and signed an agreement with the Saudi Railways Company.
Additionally, Saudi Cargo signed a new partnership with the Second Airport Group to improve air cargo services.
The General Authority of Civil Aviation (GACA) unveiled a series of agreements with companies such as Alat, Bahri, and Danfoss.
It also granted licenses for integrated logistics service zones to several entities. The Economic Cities and Special Zones Authority awarded certificates to Tharawat Group and Masarat Logistics Services for establishing new centers in King Abdullah Economic City.
It also signed a memorandum of understanding with Saudi Post to develop a new addressing system that will facilitate business operations in Saudi Arabia’s special economic zones.
Moreover, Bashar Al-Malik, CEO of the Saudi Railways Company revealed the success of Saudi Arabia’s experiments with the first hydrogen-powered train aimed at evaluating the suitability of this technology for the Kingdom’s environment.
