Saudi Ports Authority takes steps to boost export volume

The Kingdom is working on plans to boost its non-oil exports and the strategy adopted by the ports authority is aimed at boosting exports from all sectors. (SPA)
Updated 25 December 2018
0

Saudi Ports Authority takes steps to boost export volume

  • Maritime ports in Saudi Arabia had been receiving great attention since their inception under the Kingdom’s founder King Abdul Aziz

JEDDAH: The Saudi Ports Authority (MAWANI) has decided to reduce its terminal handling charges of import empty containers at Jubail port.
It is part of MAWANI’s efforts to transform the Kingdom into a unique logistics platform in accordance with the Vision 2030.
The authority has also decided to increase port demurrage or storage free days from five to 15 days to enable exporters to receive empty containers directly from Jubail port.
These decisions were made at the first board of directors meeting recently held at the authority’s headquarters.
The Kingdom is working on plans to boost its non-oil exports and the strategy adopted by the ports authority is aimed at boosting exports from all sectors.
MAWANI President Saad Al-Khalb said by taking these measures the authority wishes to contribute to improving and changing the market condition to help boost the Kingdom’s overall export volume.
Maritime ports in Saudi Arabia had been receiving great attention since their inception under the Kingdom’s founder King Abdul Aziz, to form one of the nation’s most important economic and commercial streams, as well as playing a major role in boosting its regional and international trade.


Saudi Arabia says deposits $250 million into Sudan's Central Bank: statement

Updated 30 min 10 sec ago
0

Saudi Arabia says deposits $250 million into Sudan's Central Bank: statement

  • Saudi Arabia and UAE pledged to send $3 billion worth of aid to Sudan
  • The remaining amount will be allocated to meet the urgent needs of the Sudanese people

RIYADH: Saudi Arabia said on Sunday it deposited $250 million with the Sudanese central bank, according to a statement from the Kingdom’s ministry of finance.

Saudi Arabia and the UAE pledged to send $3 billion worth of aid to Sudan, after mass protests led to the ouster of president Omar al-Bashir last month.

The move will strengthen Sudan’s “financial position, alleviate pressure on the Sudanese pound and achieve more stability in the exchange rate," the statement said.

Saudi Arabia and the United Arab Emirates have deposited now $500 million into Sudan’s Central Bank, the first instalment of the joint package of aid.

The remaining amount will be allocated to meet the urgent needs of the Sudanese people, including food, medications and oil derivatives.

Mohammed Abdullah Al-Jadaan, Minister of Finance, confirmed that this deposit constitutes an extension of the Kingdom’s support to the Sudanese people.

He added that this support will strengthen the financial and economic situation in Sudan, especially the exchange rate of the Sudanese pound, which should reflect positively on the living conditions of the Sudanese citizens.