An agreement has been signed between the King Salman International Airport Development Co, which is owned by a Saudi wealth sovereign fund PIF (Public Investment Fund), and partners, a company that specialises in asset initiatives, strategic alliances, and private investment.
According to the Saudi Press Agency, the collaboration with the Public Investment Fund intends to advance operational excellence and spur growth in the logistics industry by utilising Saudi Arabia’s position as a bridge connecting three continents.
As one of the hubs announced by the Ministry of Transport and Logistics Services, the parties will investigate the establishment of an economic centre for distribution and e-commerce.
The objective of this initiative is to improve supply chains and facilitate trade and investment, ultimately supporting the goals of “Saudi Vision 2030” and the National Transport and Logistics Strategy.
The aim of the agreement is to establish a logistics hub at King Salman International Airport, which will enhance distribution management relations between China and Saudi Arabia.
According to SPA, this will be crucial in establishing the Kingdom as a major regional air freight hub.
The centre is anticipated to improve distribution efficiency and capabilities on a regional and worldwide scale, positioning the airport as a hub for global logistics and highlighting Saudi Arabia’s strategic position in the provision of services.
The KSIADC’s acting CEO, Marco Mejia, stated that this collaboration is a critical step in achieving the organisation’s goal of establishing KSIA as a major logistics hub that supports the growth of the nation’s trade while catering to local, national, and international businesses.
“Through our collaboration with Ewpartners, we aim to enhance the Kingdom’s logistical infrastructure, increase operational efficiency, and create new opportunities that contribute to economic growth in the Kingdom and the region,” he added.
Jerry Li, Ewpartners’ founder and managing partner, emphasised that the airport’s advantageous location and broad regional commercial capabilities will create new opportunities for expansion and innovation in the Kingdom’s e-commerce and logistics industries.
The news agency emphasised that partners would strive to improve several areas, such as advanced manufacturing, logistics, digital services, and infrastructure.