Today, the Kingdom is moving with confidence and clarity toward promising new horizons with the implementation of Vision 2030 and the National Transformation Program 2020. Both the government and the private sector are working to implement initiatives in various economic fields.
Now, the country is preparing to initiate a new phase of development and growth that will thrust it into a leading regional role, especially in the maritime and shipping sectors and their respective logistical services.
King Abdullah Port and Vision 2030
One of the most important roles that King Abdullah Port (KAP) plays in Vision 2030 is its contribution to the Kingdom’s regional and international profile as a strategic trade corridor, directly supporting national efforts to diversify the economy and harness the Kingdom’s economic and trade potential as part of the overall development process.
This includes the activation of the transportation sector, which will contribute to the Kingdom’s upcoming renaissance and further energize the proliferation of public partnerships with the private sector, thus reinforcing the latter’s contribution to the gross national product.
King Abdullah Port is characterized by its strategic geographic location and integrated services. It is well-known in the shipping industry that King Abdullah Port offers the latest in technology and is under the management of a notable selection of Saudi and international experts who are working together to launch a new era of maritime transport services regionally and globally.
In terms of geographical location, King Abdullah Port is unique in many ways, the first of which being its location on the Red Sea coast, the maritime corridor for 25 percent of the world’s non-oil trade. In addition, King Abdullah Port is located in King Abdullah Economic City and is in close proximity to the city’s Industrial Valley, as well as to Makkah, Madinah and Jeddah, all of which generate massive trade movement.
King Abdullah Port plays an important role in the Kingdom’s realization of the goals put forth in Vision 2030. It has already become a role model for the future because of its contribution to the activation of the private sector in such megaprojects. In addition to being the first privately owned, operated and developed port in the region, King Abdullah Port cooperates with all government entities related to maritime transport, including Saudi Customs, the Border Guards, the Saudi Food & Drug Authority and more, all through the Economic Cities Authority which is the port’s direct governmental partner.
King Abdullah Port has been participating in regional and international logistical forums and exhibitions since 2015 as part of its role of contributing to the Kingdom’s logistical role and promoting the content and goals of Vision 2030.
Contribution to growth
King Abdullah Port has effectively contributed to the Kingdom’s growth and was classified in the last quarter of 2016 as the ‘World’s Fastest Growing Port’ by Container Management Magazine, a British magazine specializing in ports, maritime transport and the shipping and handling of containers.
Moreover, Alphaliner, the global leader in analyzing maritime transport data, port capabilities and the future of vessels and shipping route development, revealed that King Abdullah Port joined its 2016 list of the world’s top 100 container ports at no. 98. These impressive achievements come after only three years of operation, as King Abdullah Port opened its doors to the world in early 2014.
Currently, King Abdullah Port is finalizing contracts with major companies seeking to invest in logistical services, with the announcement of new signings to take place soon.
This report was first published in Saudi Gazette.