State and private companies from Saudi Arabia have been boosting their outbound campaigns as investment becomes the country’s favoured tool for soft power in the Middle East and Islamic world. Foreign investment from both state-owned and private companies in Saudi Arabia totalled a record $22.6bn in the first 11 months of 2022, up from $2.2bn over the same period in 2021, according to fDi Markets. The Public Investment Fund (PIF), the country’s sovereign wealth fund, deployed

Saudi Arabian Logistics (SAL), a member of the Saudi Arabian Airlines Corporation, has taken on the operations of customs security areas across most of the Kingdom’s airports. The move is part of the Memorandum of Understanding (MoU) signed previously by the Saudi Customs and the National Industrial Development and Logistics Program (NDLP), under the patronage of Crown Prince Muhammad bin Salman. Saudi Customs Vice-Governor Suleiman bin Abdullah Al-Tuwaijri and SAL Deputy Chi

Saudi Customs has launched a new data program aimed at streamlining administrative services for importers and investors. The authority’s auto-adjustment initiative will enable commercial importers to voluntarily correct their customs data following specific terms and procedures. Undersecretary for revenues at Saudi Customs, Dr. Mazen Al-Zamil, said the scheme, introduced on Jan.1, would help to promote transparency with investors and the business sector while improving custom

Saudi and Bahraini Customs have signed in Riyadh an agreement of mutual recognition of the Authorized Economic Operator Program (AEO). The agreement aims to enhance the security of the supply chain and the advantages of trade facilitation offered by the AEO. The agreement was signed on the Saudi side by Governor of the General Customs Authority Ahmed bin Abdul Aziz Al-Haqbani and on the Bahraini side by Sheikh Ahmed bin Hamad Al-Khalifa, president of Bahrain Customs. Al-Haqba

Great insights in to the extensive trade facilitation & digitalisation strategy of Saudi Customs to enhance international trade. We look forward to their participation at GTDW China Trade Development Week in June. The Saudi economic and social reform plan, called Saudi Vision 2030, aims at inducing long-term economic growth that is not reliant only upon oil exports. Saudi Arabia is the largest market in the MENA region and a gateway to a region of over 424 million consumers.

Another great reason to join GDTW China Trade Facilitation, Compliance & Digitalization Conference & Exhibition, June, Shanghai, Co-hosted with APMEN Shanghai, covering digital trade, secure cross border trade & trade tech interoperability for the Aisa Pac region and beyond + co-located with The 4th Anti Illicit Trade, Brand & IPR Protection Conference & Exhibition. FULL STORY: Yesterday, the Chinese government revealed that it plans to use blockchain in numerous aspects of