The Saudi Ports Authority (Mawani) has added 20 new shipping services to Jeddah Islamic Port, King Abdulaziz Port in Dammam, and Jubail Commercial Port, during the first half of 2023. The government is seeking to achieve the objectives of the National Strategy for Transport and Logistics Services, with the aim of consolidating the Kingdom’s position as a global hub, linking east with west and reaching a capacity of more than 40 million containers annually.
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Saudi Arabia said there was a rebound in the issuance of foreign investor licences in the third quarter after the kingdom eased Covid-19 restrictions and stimulated economic activity.
The Ministry of Investment issued 306 new investor licences to international companies in the third quarter, a 96 per cent increase from the second quarter and a 21 per cent rise from the same period last year, it said in a statement on Tuesday. These latest figures demonstrate that Saudi Arabia retains the long-term confidence of the global investor community into the second half of this year and is achieving steady and positive economic recovery, despite the ongoing impact of the Covid-19 pandemic on the global economy, Khalid Al Falih, Minister of Investment of Saudi Arabia, said.