A memorandum of understanding (MoU) was signed by the Ministry of Transport and Logistic Services, the Ministry of Investment, the Saudi Ports Authority, and Singaporean shipping company Pacific International Lines (PIL), on the sidelines of the Global Logistics Forum, held here recently.

The MoU entails exploring and expanding opportunities in the ports, maritime, and logistics fields, including in logistics zones, free economic zones, and dry ports. It focuses on improving rail connectivity, shipping patterns, storage, and distribution.

Key areas of cooperation outlined in the MoU include developing feeder ship services in local and regional markets, providing training to Saudi logistics professionals, fostering collaboration and exchange of knowledge, and identifying the potential for PIL to expand through a regional headquarters in Saudi Arabia.

This strategic partnership aligns with Saudi Arabia’s Vision 2030 and the Kingdom’s efforts to become a global logistics hub.

The MoU is bound to contribute t
o the development of a more efficient, sustainable, and integrated logistics sector in Saudi Arabia by leveraging PIL’s expertise and capabilities.

Source: Saudi Press Agency