Saudi ports handle 520m tons of goods annually

Updated 20 May 2014

Saudi ports handle 520m tons of goods annually

Saudi seaports play a significant role in boosting the Kingdom’s economic progress and handle 520 million tons of goods and 12 million containers annually, said Transport Minister Jabara Al-Seraisry. They have a total of 220 wharfs, he added.
Addressing a ceremony marking the launch of about 60 projects worth SR2.31 billion in Yanbu by Madinah Gov. Prince Faisal bin Salman, the minister said Saudi ports have been attracting international shipping lines.
Prince Faisal pressed an electronic button to launch the projects. He also watched a documentary on the performance of the King Fahd Industrial Port and Yanbu Commercial Port.
The new projects launched by Prince Faisal included those related to expansion of the two ports, the minister said, adding that the projects would contribute to boosting the Kingdom’s exports.
The government has spent SR1.11 billion on the two ports while the remaining projects launched by the governor would cost SR1.2 billion. The commercial port has nine wharfs while the King Fahd port has 24 wharfs with a capacity to handle 140 million tons.
Efforts are underway to add six more wharfs to King Fahd port to increase its capacity to 180 million tons, Al-Seraisry said.
“Saudi ports play a big role in the Kingdom’s industrial and commercial development and exporting oil and petroleum products,” he said.
The new projects included manufacturing and importing of two multipurpose tugboats, construction of new roads, security systems, fire-fighting systems and maintenance contracts.
Prince Faisal opened a new passenger lounge at the commercial port, an observation tower and expansion of the Civil Defense Department in addition to 12 investment projects for the private sector.


Dubai launches economic program for post COVID-19 recovery 

Updated 05 August 2020

Dubai launches economic program for post COVID-19 recovery 

  • “The Great Economic Reset Programme” is part of a “COVID Exit initiative” to help the recovery and reshaping of the economy
  • The economic program will feature analyses of current and future policies

DUBAI: Dubai launched an economic program as part of its efforts to reshape the emirate’s economy for a “sustainable” and “resilient” future post the coronavirus pandemic, the government said. 
The Dubai government partnered with the Mohammed bin Rashid School of Government (MBRSG) to launch “The Great Economic Reset Programme” as part of a “COVID Exit initiative” to help the recovery and reshaping of the economy, state news agency WAM reported on Tuesday. 
The economic program will feature analyses of current and future policies, research and extensive stakeholder consultation to set the direction and tone of future economic policies, regulations and initiatives.
The government plans to use local and international experts for economies and societies to create growth strategies for the Dubai economy.
The MBRSG held a “Virtual Policy Council,” with global experts and thought leaders to discuss the impacts of COVID-19 on the economy and potential policy responses and initiatives. 
Chief economists, senior practitioners and researchers from leading global institutions including the World Bank, joined experts from Dubai Economy and the MBRSG at the first roundtable.
“I believe the triple helix collaboration between public, private and academia stakeholders have always produced the best solutions in the past. In the highly uncertain environment now, extensive collaboration and cooperation between all stakeholders are vital to our future prosperity. The Virtual Policy Council will propose the best approaches Dubai and the UAE can adopt to address the risks and opportunities in the next normal economy,” said Mohammed Shael Al-Saadi, CEO of the Corporate Strategic Affairs sector in Dubai Economy.
“This Virtual Policy Council is a key component of the whole process where global experts and thinkers share their views on the future economy. In this new era, the role of governments in enabling the new economic actors is becoming increasingly central, and Dubai is well-positioned to lead the way with innovative models of growth post COVID19,” said Professor Raed Awamleh, Dean of MBRSG.
The roundtable also discussed the impact of the pandemic on international trade, foreign investment and tourism, as well as the rise of digital globalization.