61 billion riyals.. Al-Kharif praises the Kingdom’s revenues from “re-exports”

Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef confirmed that Saudi exports from the re-export sector amounted to 61 billion riyals during the year 2024.
It recorded a growth rate of 23% over the previous year, as a result of the strong infrastructure and rapid development of logistics services in the Kingdom.
In addition to the integrated and harmonious work between all Saudi government systems.

Development of the logistics sector

Al-Khorayef explained that the development of the logistics services sector and the strength of supply chains are an important possibility for raising the competitiveness of Saudi industry and enhancing the access and penetration of national products to world markets.
In addition to its important role in reducing costs for industrial investors, and attracting quality investments to the Kingdom.
This came during his participation in the Ministry’s opening session of the sixth edition of the Supply Chains and Logistics Services Conference held in Riyadh, which was titled: “The Role of Logistics Prosperity in Strengthening Supply Chain Business in the Kingdom and Achieving Global Competitiveness in accordance with Vision 2030.”

Promising opportunities

The Minister of Industry indicated that the challenges that the world has witnessed in recent years constitute promising opportunities for the Kingdom to build major logistics regions that enhance the interconnectedness and strength of supply chains, by taking advantage of its strategic components, which include its unique geographical location.
Which connects 3 continents, connecting them to the world’s markets, its natural resources, its abundance of energy sources at competitive prices, and its technical progress, as it is one of the largest countries investing in digital infrastructure.

Investments of major international companies

Al-Khorayef explained that the Kingdom has become attractive for investments from major international companies, to benefit from the competitive advantages of the Saudi investment environment.
This includes attracting qualitative investments in the sectors of cars, ships, food, medicine, and daily consumer products.

He noted that the plans of industrial investors are not limited to meeting local demand, but go beyond that to make the Kingdom an important center for them to export to regional and international markets.

Strengthening the Saudi mining sector

The Minister of Industry and Mineral Resources spoke about the importance of advanced infrastructure and logistics services in strengthening the Saudi mining sector and creating added value from it.
He explained that the logistical link between the cities of Waad Al-Shamal, Ras Al-Khair and Jubail Industrial City contributed to the development of the industrial and mining sectors.
Ma’aden’s exports amounted to 7 billion riyals, and the Kingdom ranked fourth globally in phosphate exports.
Jubail Industrial Petrochemical production constituted 6% of the world’s total production.
He added: “Although the period that followed the launch of the comprehensive mining strategy was short, the Kingdom has become a prominent position in the global mining sector, and the International Mining Conference, the new session of which will start next January, has become the most important mining event that brings together stakeholders in mining in the world and discusses The most prominent challenges and opportunities in the sector.