SIDF to expand financing policy to include ground handling, logistics services projects: Official

Abdulaziz Alarifi, Assistant Minister of Transport and Logistic Services 

Saudi Industrial Development Fund (SIDF) will expand the logistic appropriations policy to include airport ground handling projects and third-party logistics services, Abdulaziz Alarifi, Assistant Minister of Transport and Logistic Services said, on the sidelines of an annual meeting to empower the private sector today, Oct. 14.

“The land and logistic loan program came to cater for the logistics industry in the Kingdom,” he added.

The SIDF plays a key role in achieving the objectives of the National Transport and Logistical Services Strategy (NTLS), which aims at cementing Saudi Arabia’s position as a global logistics hub and helping the Kingdom come among the top 10 performers of the logistics performance index (LPI).

Saudi Arabia ranked first among Arab countries in terms of expenditure, and took the first position among GCC countries in terms of population, consequently offering huge returns to the logistics industry.

The Kingdom also enjoys a distinguished position, which enables it to reach more than six billion consumers in three continents, granting it a significant strategic logistical advantage, the official stated.