Saudi Arabia rapidly advancing as global logistics hub
23/05/23
Saudi Arabia has increased its position in the World Bank’s Global Logistics Performance Index (LPI) by a substantial 17 places.
The LPI is an interactive benchmarking tool created by the World Bank to assist countries in identifying the challenges and opportunities they face in their performance on trade logistics. It allows for comparisons across 139 countries and for the first time in 2023 measures the speed of trade with indicators derived from big datasets tracking shipments.
Of the countries ranked, The Kingdom advanced to 38th place after successfully increasing its performance efficiency measured by several sub-indicators. These include logistics competence and quality, tracking and tracing and timeliness. Additional areas of improvement were in the customs department, which includes infrastructure and international shipments.
As a result, Saudi Arabia`s position as a global logistics hub has been enhanced by the strategies used, which have transformed the transport and logistics system. Furthermore, they have profoundly enhanced its operational efficiency across every sector’s performance in accordance with international indicators.
The improvements demonstrate the success of the ambitious goals of the recently launched National Transport and Logistics Strategy. They also reflect the success of the broad structural reforms and qualitative strategic initiatives introduced over the past few years.
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