Boosting Investment Through An Ever-Growing Transport Sector

Jul, 22, 2021 | 15:11 PM
itialuS continues its global service expansion

Who We Are

We are an audit firm based in Riyadh Saudi Arabia in collaboration with AGN International. We provide audit and assurance services, which could further include: - Consultancy on internal audit controls and processing system deficiencies and weaknesses, limited & independent review of financial statements and other information, guiding on accounting - Treatment of complex transactions and bookkeeping services, tax consultancy (VAT, WHT, Corporate Income tax), etc.

 

Our Market Trends

Recently, Saudi Arabia launched its National Transport and Logistics Strategy to boost the transport sector which is at a nascent stage and has room to accommodate heavy investment. It’s expected to generate $150 billion in investments by 2030 in areas such as public transport, railways, cargo, and airports development, and help position the Kingdom as a global logistics hub. The Minister of Transport stated that the government would provide 35% of the needed investments and the remaining would be contributed by private investors.

A maritime transport project includes a 3400-km coastal transport project, which will connect 14 coastal cities across east to west of the Kingdom. A “land bridge” rail project that will run more than 1,300 kilometers will connect the Kingdom’s ports on Arabian Gulf & Red Sea. Followed by the launch of the National Strategy, the Ministry of Communications and Information Technology announced the entry of 3 major international companies into the kingdom to cater parcel delivery services of the e-commerce market as well as localize supply chains. It’s expected to generate investments worth more than $1.5 billion.

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