RIYADH — Ministry of Investment signed on Wednesday a memorandum of understanding with the French shipping giant CMA CGM Group to boost cooperation in the transport and logistics sectors. CMA CGM Group is one of the largest French companies operating in the transport and logistics sectors. The signing ceremony was held in the presence of Minister of Investment Khalid Al-Falih. The agreement aims to support the company's investment project plans and exploring potential investment opportunities in Saudi Arabia. In a statement on its X account, the ministry said that the agreement aims to explore investment opportunities in alternative fuel solutions to reduce emissions, transferring knowledge and best global practices, and training national cadres in this sector. The ministry noted that this will contribute to achieving the goals of the National Strategy for Transport and Logistics, within the Saudi Vision 2030. As part of the strategy, the Kingdom aims to double the logistics sector's contribution to the gross domestic product (GDP). It is noteworthy that the CMA CGM group's mission is to contribute sustainable globalization through better balanced international trade that fosters both economic and social development while respecting the integrity of all. One of their tasks is providing logistical solutions, as integration between shipping and logistics services is considered as an essential part of the identity of the group. They provide comprehensive transportation solutions for all types of goods via land and air freight services by harnessing their expertise in logistics and warehousing contracts.
