Saudi Arabia Launches ‘Global Supply Chain Resilience Initiative’ to Attract $10.6bn

Saudi Arabia has announced the launch of the Global Supply Chain Resilience Initiative (GSCRI) to attract 40 billion riyals ($10.6 billion) in two years.

The initiative was launched by Crown Prince Mohammed bin Salman. It will include the allocation of about 10 billion riyals as incentives for supply chain investors.

The Global Supply Chain Resilience Initiative will leverage the Kingdom’s resources, infrastructure and location to bring greater resilience to economies and companies across Europe, the Americas and Asia, while further enhancing Saudi Arabia’s position in the global economy,

the statement said.

The supply chain initiative includes the creation of a number of special economic zones, which also mentions ongoing "regulatory and procedural" reforms.

Last year, the kingdom said it planned to invest more than 500 billion rials by 2030 to expand the transport sector as part of a strategy to become a global logistics hub.