Aramex buys way in to Vision 2030

Aramex trucksIn a further statement of its intent to capitalise on Saudi Arabia’s Vision 2030 initiative, the Dubai-based international express, mail delivery and logistics services company Aramex this month confirmed that it had acquired Saudi TAL for approximately $80m. The announcement comes weeks after it unveiled plans to launch a crowd-based delivery platform in the Kingdom.before rolling it out across ten other countries in the MENA region.
Saudi Arabia is already Aramex’s largest market in the Middle East and holds further “significant growth potential,” its CEO said following the latest announcement. “Our acquisition of Saudi TAL supports Saudi Arabia’s Vision 2030, which aims to encourage private sector investment to diversify the economy. This acquisition is also in line with our strategy to have leaner and more efficient operations in all markets we operate in, and will allow us to focus on upgrading last-mile delivery through innovative solutions, which will ultimately result in an enhanced customer experience.”
The Saudi authorities aim to use Vision 2030 initiative to transform the KSA into the world’s 15th largest economy and in the process propel three of its cities into the global top 100 rankings. With the liberalisation of several key sectors and the streamlining of its business licensing and regulatory environment also high on the agenda, the demands on its logistics and customs infrastructure are likely to grow exponentially – as are the commercial opportunities for companies like Aramex.