{"id":70240,"date":"2023-04-18T00:00:00","date_gmt":"2023-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/18\/today-saudi-arabia-launches-four-economic-zones-clashes-in-sudan-bring-country-to-a-halt\/"},"modified":"2023-04-18T00:00:00","modified_gmt":"2023-04-18T00:00:00","slug":"today-saudi-arabia-launches-four-economic-zones-clashes-in-sudan-bring-country-to-a-halt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/18\/today-saudi-arabia-launches-four-economic-zones-clashes-in-sudan-bring-country-to-a-halt\/","title":{"rendered":"TODAY: Saudi Arabia launches four economic zones + clashes in Sudan bring country to a halt"},"content":{"rendered":"

Good morning, nice people.<\/span> We have a packed issue for you this morning with plenty of news<\/span> to catch up on, from diplomatic detentes to new economic zones and logistics parks.<\/span><\/p>\n

THE BIG LOGISTICS STORY- <\/span>Saudi Arabia has launched four new Special Economic Zones in the <\/span>kingdom <\/span>to reinforce its position as a global investment hub, located in Riyadh, Jazan, Ras al Khair, and King Abdullah Economic City.<\/span><\/p>\n

HAPPENING TODAY-<\/span><\/p>\n

<\/a> <\/span>Supply chain issues see polarized opinions among global finance: <\/span>Discussions between finance ministers and central bank governors in Washington have highlighted deep differences in opinions on the best course for the global economy, <\/span>Bloomberg<\/a><\/span> reported last week<\/span>. G7 leaders talked up the need for more built-in \u201cresilience\u201d in global supply chains, while the IMF warned about \u201cfragmentation\u201d and a bleak outlook for the global economy. <\/span><\/p>\n

Western leaders are calling for measures to centralize supply chains and bring them under their control<\/span>, or what US Treasury Secretary Janet Yellen calls \u201cfriendshoring,\u201d Bloomberg reports. On the other hand, IMF chief Kristina Georgieva warns that efforts to promote supply chain resilience risk leading to \u201cfragmentation\u201d in the global economy if they are pursued too aggressively, Bloomberg reports. At the center of that risk is the growing rift between the US and China. Poorer countries are particularly at risk in such a scenario as they would be forced to make difficult decisions on which trade bloc they wish to join. <\/span><\/p>\n

<\/a> <\/span>Clashes in Sudan leave hundreds dead, close the country\u2019s airspace:<\/span>Battles <\/span>between the Sudanese army and paramilitary forces continue for the fourth day, despite international efforts to end the fighting, t<\/span>he <\/span>BBC<\/a><\/span> reports.<\/span> More than 100 people have died since Saturday in violence between the army and the Rapid Support Forces paramilitary group. Both sides have claimed to control key parts of the city, including the airport and the presidential palace.<\/span><\/p>\n

All flights to and from Khartoum International Airport have been suspended<\/span>, with<\/span> flight tracking website <\/span>Flightradar24 showing<\/a><\/span> empty skies over the country. <\/span>Several civilian and military aircraft were destroyed at Khartoum International Airport, <\/span>according to satellite images shown by the <\/span>BBC<\/a><\/span>. A commercial aircraft belonging to KSA carrier Saudia was also struck by gunfire while on the airport\u2019s tarmac, according to <\/span>a report by <\/span>Al Arabiya<\/a><\/span>. <\/span><\/p>\n

<\/a> <\/span>Dubai\u2019s Floating Bridge will be closed to traffic for five weeks as of yesterday to <\/span>make way for major maintenance work<\/span>, according to a Road Transport Authority (RTA) <\/span>statement<\/a><\/span>. Traffic will be rerouted along alternative routes including Al Maktoum Bridge, Infinity Bridge, and Al Garhoud Bridge among other roads and crossings, the press release added. <\/span><\/p>\n

<\/p>\n

\n

WATCH THIS SPACE- Egyptian Prime Minister Moustafa Madbouly discussed <\/span>proposals to facilitate investment procedures concerning cross-border trade <\/span>with Egypt\u2019s <\/span>General Authority for Investment and Freezones<\/a><\/span> (GAFI), in a bid to attract more foreign and local investments to support the local economy, according to an Egyptian <\/span>cabinet statement<\/a><\/span>. GAFI CEO Hossam Heiba discussed with Madbouly the possibility of integrating local data with international data systems to provide detailed, electronic data for shipments through carrier companies. The two also discussed facilitating customs release procedures for freezone projects, the statement added.<\/span><\/p>\n

<\/a> <\/span>DATA POINT #1- Tunisia\u2019s trade deficit narrowed 12% y-o-y in 1Q 2023<\/span> to c.TND 3.85 bn, according to <\/span>data<\/a><\/span> published by Tunisia\u2019s National Institute of Statistics (INS). This came on the back of a 10.9% y-o-y uptick in exports to TND 15.6 bn, outpacing a 5.5% rise in imports, the INS said in a note picked up by Tunisian state news agency <\/span>Agence Tunis Afrique Presse<\/a><\/span>.<\/span> M<\/span>echanical and electrical industries accounted for the biggest share (18.8%) of the country\u2019s exports, followed by textiles and clothing at 17.8%, and the food industry at 8.2%, according to the data. Exports to the EU, which make up 72.3% of Tunisia\u2019s exports, rose 16.3% y-o-y during the quarter, while imports from the bloc rose 2.8% y-o-y to TND 8.5 bn.<\/span><\/p>\n

DATA POINT #2- Dubai has processed a record 7 mn customs transactions in 1Q <\/span>2023<\/span>, <\/span>Dubai Customs Director General and CEO of the Ports, Customs and Freezone Corporation <\/span>Ahmed Mahboob Musabih said, according to <\/span>UAE state news agency <\/span>Wam<\/a><\/span>. The authority also handled 112 cases of intellectual property disputes involving 9.6 mn counterfeit goods worth AED 28.85 mn in the quarter, Wam reported.<\/span><\/p>\n

DATA POINT #3- Saudi\u2019s Mawani reported a 21.14% y-o-y increase in handling <\/span>container volumes to 693.5k TEUs in March<\/span>, according to a <\/span>press release<\/a><\/span>. Exports in March rose c.18% y-o-y to 195.5 TEUs, while imports grew 37% y-o-y to 224.2 TEUs in March. Transshipments also rose 13% y-o-y to 274.8 TEUs were recorded during the month, whereas total cargo volumes for the month rose 5.8% y-o-y to 26 mn tons. <\/span><\/p>\n

<\/p>\n

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COME TO OUR NEXT ENTERPRISE FORUM- <\/span><\/p>\n

<\/a><\/p>\n

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking place on Monday, 15 May at Four Seasons, Nile Plaza. <\/span>The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help us build an export-led economy that makes us a magnet for foreign direct investment (FDI).<\/span><\/p>\n

What\u2019s the Enterprise Exports & FDI Forum?<\/span> In the wake of successive floats of EGP, exports and FDI have never been more important to our economy \u2014 or our businesses. We\u2019re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what we as a country can do to draw foreign investment and much-needed FX.<\/span> Expect it to be heavy on lessons learned in Egypt and other global growth markets \u2014 and lots of success stories. <\/span>You can learn more on our conference website here<\/a><\/span>.<\/span><\/p>\n

Some of the biggest names in business and finance are on board \u2014 are you? <\/span>If you\u2019re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please <\/span>fill out the form here<\/a><\/span> to signal your interest, letting us know your name, title, and where you work.<\/span><\/p>\n

WANT TO BECOME A COMMERCIAL PARTNER?<\/span> Ping a note to <\/span>Moustafa, our head of commercial, here<\/a><\/span>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, nice people. We have a packed issue for you this morning with plenty of news to catch up on, from diplomatic detentes to new economic zones and logistics parks. 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