Saudi Arabia's maritime sector seen to get much needed boost as government allocates SAR 33 billion in 2019
With Bahri as strategic partner, Saudi Maritime Congress forum to catalyze country’s ‘Vision 2030’ goals
Saudi Arabia, January 6, 2019 - Saudi Arabia’s maritime sector is set to receive a much-needed boost with a generous allocation of SAR 33 billion (USD 8.8 billion) for the energy, industry, mining and logistics sectors in its recently announced budget for 2019. In fact, the country is on an aggressive growth and diversification path, with substantial government spending expected to catalyze its ‘Vision 2030’ goals and drive sustainable growth and development. On the back of strong growth, revenues in the Kingdom are also projected to increase this year to SAR 975 billion, setting an optimistic blueprint for exponential growth and progress.
The 2nd Saudi Maritime Congress, to be held on March 11th and 12th at the Four Seasons Hotel Riyadh, Kingdom Centre, Riyadh, Saudi Arabia, will closely examine these budgetary implications on this sector, focus on the growth of intra-regional trade and the booming north-south network, analyse the changing regulatory environment and study existing project opportunities. Held under the patronage of the Saudi Ports Authority (MAWANI) and in partnership with Bahri, the event is also expected to set new trends in the shipping and logistics industry, providing extraordinary insights into the country’s ambitious growth agenda and consolidate Saudi Arabia’s position as a global trading hub and a strategic gateway to Asia, Africa and Europe. For two days, international experts, influential maritime leaders and professionals from the shipping, ports and offshore marine companies will do business, forge new partnerships and discuss key market and sectoral insights, to fast track growth and development in this vital industry.
Chris Hayman, Chairman of Seatrade, said: “We are pleased to organise the Saudi Maritime Congress for the second time, following the great success of the first edition in 2014. Against the background of global change, the Kingdom of Saudi Arabia’s Vision 2030 plan is set to transform the Saudi economy, with massive consequences for its maritime and logistics sectors. This event will provide a unique opportunity to see at first hand the scale and nature of the developments which are now unfolding in the Kingdom, as it consolidates its role as a major industry player and as a global logistics hub.”
The Saudi Maritime Congress will provide an ideal platform for discussing with key players the future direction of maritime and logistics policy in the Kingdom and for showcasing the commercial and investment opportunities which this ambitious pathway towards sustainable development represents.
Home >> Shipping and Logistic Section
Investcorp Launches a USD 1 billion Platform, To Be Anchored by China Investment ...
Charting a greener path: Sustainability in Saudi Arabia's tourism strategy
Diriyah Company Announces Zallal, Diriyah's First Mixed-Use Commercial Office An ...
Inaugural SaudiFood Manufacturing show to put spotlight on Kingdom's F&B manufac ...
Hysek reveals iconic timepieces at Watches & Wonders 2024
Patients in Disguise: Saudi's "Mystery Visitor" Program Delivers Resul ...
Saudi Doctors Sweep Awards at Geneva Inventions Expo 2024
How will billions of muslims preform Hajj in the future?
Saudi film 'Norah' Nominated for Cannes Film Festival 2024
Khabib's Official Training Gloves Will Be Sold at Tooba Charity Auction in Dubai
Formula E and FIA to unveil new gen3 evo race car at upcoming monaco E-prix
Magrabi Eye and Dental Complex Day Surgery Center inaugurates in Makkah
Saudi Investment Recycling Company and SAP extend partnership with new deploymen ...
Victory for Pascal Wehrlein after last Lap Heartbreak for Rowland
Oliver rowland wins misano e-prix opener after antonio felix da costa disqualifi ...
Mitch Evans Looks For Another Italian Triumph As Formula E Descends On Rimini De ...
Hilton Riyadh Hotel & Residences Prepares For A Festive Eid Extravaganza
Watches & Wonders 2024 Unico: Hublot's Manufacture Calibre
Bremont introduces a new generation of its Supermarine diving watch series
Formula E to Use Latest Sustainable Tech to Power its Events Worldwide