Riyadh: Minister of Transport and Logistic Services Saleh Al-Jasser emphasized the critical role of collaboration with the private sector at the fourth Public Investment Fund (PIF) Private Sector Forum. He noted that the transport and logistics sector is a vibrant economic area with strong investment potential and job creation capabilities.
According to Saudi Press Agency, since the launch of the National Transport and Logistics Strategy in mid-2021, investments have exceeded SAR250 billion, including SAR25 billion in privatization projects and 16 ongoing opportunities in airports, roads, maritime transport, and logistics.
Al-Jasser highlighted the ministry's partnerships with the Ministry of Investment and other sectors to attract capital and engage investors. International indicators show the Kingdom's strong progress in implementing the national strategy, as reflected in the logistics, air, and maritime connectivity metrics.
The minister also affirmed the increase in local content from 39% in 2020 to 57% currently, with a target of 70% by 2030, achieved in collaboration with relevant ministries. Al-Jasser confirmed that the PIF is pivotal to the success of the transport and logistics sector, with the government prioritizing it as one of its five core areas.
Cooperation with the PIF has initiated the transfer of assets, starting with Riyadh airport, followed by additional airports, ports, and railways, thereby creating numerous private sector partnership opportunities. A total of 70 opportunities have been identified, with 16 currently available.