Mubasher: Agility Public Warehousing Company’s investments in Saudi Arabia’s warehousing and logistics sector have exceeded $1 billion, company CEO Tarek Sultan told CNBC Arabia in an interview.
He stressed the importance of building a real partnership with the private sector to make headway towards turning Saudi Arabia into a logistics hub.
Converting the kingdom into a global logistics hub contributes to improving the country’s business environment, increasing jobs and boosting economic growth, CEO of the Kuwait-based company said.
Sultan called for injecting further investment into technology in the next period to support the projects' success, noting that Saudi Arabia has already pumped large investment to upgrade infrastructure.
It is time to invest in the kingdom’s technology sector in a bid to link the projects together, he explained.
The top official said there are 40 or 50 Saudi government entities that have to adapt cutting-edge technology to facilitate their services including costume release.
He explained that putting one-stop shop system into effect would ease making business in Saudi Arabia.
Moreover, the Saudi government must plow investments into the transport sector such as linking the railway line between Jeddah and Dammam that paves the way for linking with the new Silk Road, Sultan said.
He affirmed the key role of logistics firms, such as Kuwaiti logistics conglomerate Agility, to shore up the success of these projects.
