An Arab News report based on an interview by Ms Nomita Dhar with Singapore’s Manpower Minister and Second Minister for Trade and Industry revealed Singapore’s interests in deepening cooperation

AN Arab News report on 28th November 2023 highlighted how Singapore sees the growth opportunities in logistics, transport and green energy under the Saudi Vision 2030, The Island Republic’s Manpower Minister and Second Minister for Trade and Industry Mr Tan See Leng said since the visit by Prime Minister Lee Hsien Loong to the Kingdom in October and ties between the two countries have elevated to a strategic level, there has been seven MoUs signed to facilitate investment opportunities.

Minister Tan had also been to Saudi Arabia on 17th October 2023 as the Co-Chair at the third session of the Saudi-Singapore Joint Committee with Saudi Transport and Logistic Services Minister Saleh Al-Jasser. At the meeting both ministers reaffirmed their committment to growing the countries bilateral ties.

In the Arab News report, Minister Tan said “With Saudi Arabia’s Vision 2030, the country has seen new growth areas for Singapore’s businesses on many fronts, such as in logistics, transport and green energy. I had shared with His Excellency Al-Jasser Singapore’s interests to deepen our cooperation in the ports and logistics sectors and Singaporean companies’ interest to participate in projects arising from Vision 2030.”

Singapore is Asia’s top logistics hub and has been ranked by the World Bank as the first in the world for logistics competence, infrastructure and timeliness of services. During the Saudi-Singapore Joint Committee’s recent sessions, the Saudi Ports Authority, known as Mawani, and Saudi Global Ports, a subsidiary of Singapore’s port operator PSA, signed an agreement to establish an integrated logistics zone at the King Abdulaziz Port in Dammam. 

For more information on the development of logistics zones, projects on the energy front as well as other investment news related to the interest of Singapore companies in areas such as oil and gas, tourism and hospitality, urban infrastructure and education sectors visit here