Saudi Arabia Hosts Global Logistics Forum 2024

The Kingdom of Saudi Arabia showcased its growing leadership in global logistics as it hosted the 2024 Global Logistics Forum, held from October 12 to 14 in Riyadh under the patronage of H.R.H. King Salman bin Abdulaziz, Custodian of the Two Holy Mosques. Under the theme of ‘Reshaping the Global Map of Logistics’, the forum attracted over 13,000 attendees, including high-ranking Saudi ministers from Transport and Logistics, Investment, and the Transport Ministers from Egypt, Oman, Bahrain and the United Arab Emirates. With 130 speakers and 80 exhibitors from 30 countries, the forum served as a platform for discussing critical partnerships and innovations, announcing multiple projects aimed at bolstering the Kingdom’s position as a global logistics hub by 2030, in alignment with its Vision 2030 strategy.  

During his opening remarks at the forum, H.E. Saleh bin Nasser Al-Jasse, the Minister of Transport and Logistic Services, conveyed his appreciation to the Custodian of the Two Holy Mosques for his honoured support of this event. He expressed gratitude to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, stating,

"This is the perfect time to hold this forum, as the global logistics sector is at a crucial

turning point. The current challenges worldwide highlight the importance of protecting

supply chains and ensuring the continuous operation of logistics services, which are

essential to international trade. The Global Logistics Forum offers a chance to enhance,

innovate, and strengthen the global logistics networks that connect us, promoting

economic growth and ensuring timely delivery of goods."

H.E. Saleh bin Nasser Al-Jasser discussed the substantial investments and partnerships which are designed to enhance the Kingdom’s logistical capabilities. With nearly 70 agreements announced, totalling almost $17 billion, these mark a significant investment in the future of Saudi logistical capacity. The Kingdom has already invested $53 billion of a planned $267 billion into its logistics sector, driving significant improvements in infrastructure. This financial commitment has propelled Saudi Arabia up global logistics rankings, including a 17-rank jump in the Logistics Performance Index and a 14-rank increase in the Global Connectivity Index.  

Other keynote speakers and panellists included H.E. Adel bin Ahmed Al-Jubeir, Minister of State for Foreign Affairs and Climate Envoy, H.E. Khalid bin Abdulaziz Al-Falih, Minister of Investment, H.E. Dr. Abdullah Aldubaikhi, Deputy Minister for Ministry of Investment, and H.E. Dr. Rumaih AL-Rumaih, Vice Minister, Transport & Logistic Services and Acting President of the Transport General Authority (TGA). In total there were over 15 ministers and 75 industry leaders from more than 30 countries at what was a major event in the transport and logistics sector.

One particularly important event regarding maritime affairs was the announcement of a $5 billion Saudi-Egyptian maritime connectivity agreement, signed by H.E. Saleh Al-Jasser and Egypt’s Minister of Transport, H.E. Kamel Al-Wazir. This agreement aims to enhance the quality of maritime passenger transport in the Red Sea, securing this vital waterway and fostering collaboration of yacht, ferry, and passenger ship transport services.

Sustainability and technology were key themes throughout the event; panel events such as the ‘Women’s Leadership in Logistics’ and ‘The Reality of Advanced Tech in Logistics’ highlighted the respective importance of inclusivity and innovation in driving progress in maritime logistics. Technological advancements like artificial intelligence, blockchain, and smart infrastructure were emphasised as essential tools for modernising global supply chains and improving operational efficiency. H.E. Saleh Al-Jasser noted, “Current global disruptions highlight the need for a resilient supply chain that guarantees the seamless flow of goods and services across borders.” This commitment to embracing innovative technologies reflects the Kingdom’s dedication to environmental responsibility and maritime operational excellence, setting a strong example within the International Maritime Organization (IMO). 

The forum also stressed the important role of private sector investment, with 35% of the announced investment deals coming from private companies. High-profile agreements included a partnership between King Salman International Airport and EW Partners to develop a logistics special economic zone, positioning Riyadh as a vital hub for trade between Asia and Europe. 

Other significant agreements included the establishment of CEVA Almajdouie Logistics, a joint venture aimed at strengthening Saudi Arabia’s logistics infrastructure by leveraging local and global expertise. This collaboration will help meet the rising demand for integrated logistics solutions, further solidifying the Kingdom’s role in global supply chains. Additionally, the six strategic Memorandums of Understanding (MoU’s) Saudi Logistics Academy (SLA) signed with entities in the Kingdom such as NEOM, Qassim University, and the Ministry of Human Resources and Social Development to empower the next generation of male and female leaders in the transport sector.

At the conclusion of the forum, participants emphasised the importance of enhancing international cooperation to address the challenges and crises affecting global supply chains, ensuring the freedom and safety of maritime navigation, and maintaining the uninterrupted flow of maritime trade.

The 2024 Global Logistics Forum underscored Saudi Arabia’s increasing importance within the logistics sector and its influence on the international stage. Many of the collaborations within the Kingdom that have been announced at GLF24 are expected to have a global impact as an increasing number of regional partnerships further cement the nation’s place at the centre of regional trade, transport and logistics. With substantial investments, strategic alliances, and commitment to sustainability, Saudi Arabia is reshaping the global logistics landscape and leveraging its strategic location reinforce its status as a vital international hub.