DP World has announced plans to develop Saudi Arabia’s Jeddah Port as part of Saudi Vision 2030 recently launched by the country's Crown Prince Mohammed bin Salman bin Abdulaziz.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, made the announcement during a panel discussion at the Future Investment Initiative summit currently being held in Riyadh.

He outlined the significance of the port being a gateway for the Saudi market and for the region, connecting major markets in Africa and the Middle East, saying that its role as a trade hub can be further boosted by DP World’s vision for its development over the next 30 years.

Bin Sulayem said, "As the first major investor in Jeddah port for almost 20 years now, we are committed to supporting the Kingdom’s effort to leverage its resources and investment capabilities through the development of Jeddah port. Our plans involve increasing efficiencies using innovative tech solutions and making it a semi-automated facility. Jeddah Port is pivotal in facilitating the movement of goods between east and west, and in boosting Saudi exports.

"Our proposals are designed at boosting efficiency by enabling local businesses, opening new avenues for growth while supporting the government in achieving the Saudi Vision 2030. This is part of our role as partners – to add value to nations and to deliver sustainable solutions for the benefit of all," he added.