ShipTek International Conference & Awards KSA 2025
Saudi Arabia holds approximately 18 percent of the world’s proven petroleum reserves, making it the second-largest holder of crude oil reserves globally, and possesses the fifth-largest proven natural gas reserves. As a founding member of OPEC with total resources valued at $34.4 trillion, it ranks as the third country, after Russia and the US, with the most plentiful and valuable natural resources. Recognized as one of the best-performing economies within the G20, Saudi Arabia embarked on a journey of sweeping economic reforms in 2016 aimed at reducing its dependence on oil. By 2025, under the ambitious Vision 2030, the Kingdom has significantly diversified its economy, increasing non-oil revenues and implementing reforms that ease business operations, protect minority investors, and empower women in the workforce.
For the shipping industry, Saudi Arabia’s strategic location at the crossroads of major international shipping routes, combined with its robust infrastructure and regulatory reforms, makes it an attractive hub for maritime activities. The Kingdom’s ongoing investments in port facilities, logistics, and supply chain management further enhance its appeal as a global shipping centre. As Saudi Arabia continues to diversify and strengthen its economy, the shipping industry stands to benefit from improved efficiencies, increased trade volumes, and a favourable business environment.
