Arab Finance: Declare NEOM Port On the success of an operational experience of a new, multimedia regional trading corridor, linking major commercial centers in the Kingdom of Saudi Arabia, the Arab Republic of Egypt and the Republic of Iraq, in cooperation with the logistical partnership council with the private sector.
The experiment contributed to reducing the time of the transfer of shipments by more than 50% compared to traditional paths, as the first shipments started from the Egyptian capital, Cairo, passing through the port of Safaga, and then crossed the Red Sea to the port of NEOM, before continuing its flight to the Iraqi city of Erbil, concluding more than 900 km.
The project witnessed the integration between a number of government agencies, including the General Authority for Transport and the Zakat, Tax and Customs Authority, in addition to private sector partners such as ship owners, exporters, importers, export councils and logistical services companies.
This cooperation contributed to high levels of operational efficiency and providing integrated and effective logistical solutions that have significantly strengthened competitiveness.
The success of this experience opens wide horizons to reduce costs and reduce transit times significantly, supporting the development of future trade corridors at the regional and international levels.
The project is also a pivotal step in strengthening the role of the NEOM port as a logistical and sea center in the Kingdom, taking advantage of its strategic geographical location on the Red Sea and its proximity to the borders of Arar, the main gate to Iraq.
This unique site facilitates smooth commercial flows between Asia, Africa, Europe and the Middle East, which enhances Saudi Arabia as a central global logistical center, and supports the Kingdom's 2030 vision targets to build a global integrated logistical system.
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