JEDDAH: Saudi Industrial Services Company (SISCO), a strategic investor in the Kingdom’s ports and terminals, on Sunday reported that revenue in Q1 2021 rose 51.6 percent year-on-year (YoY) to SR253.6 million ($67.63 million), while net income grew 21.4 percent to SR32.3 million over the same period.
Revenue from the ports and terminals segment increased by 70.8 percent YoY in the first three months of 2021 to reach SR211.5 million, while the logistics division saw revenue rise 24.4 percent to SR24 million.
The surge in revenue for the ports and terminals business was due to increased efficiencies, but also as a result of the 65.7 percent rise in container volumes compared with Q1 2020.
The logistics, ports and services division of the business also saw strong growth, with warehousing occupancy rates averaging at around 99 percent for the quarter, with plans to develop further facilities to cater to demand, especially for new contracts signed in 2020, including those with energy giant Aramco.
“SISCO continues to achieve very strong results despite operating in a challenging macro-economic environment,” SISCO CEO Mohammed Al-Mudarres said in a statement.
He added: “In the first quarter, the Group achieved significant top-line growth in the ports and logistics business, driven by improved gateway and transshipment volumes and growth in our warehouse and logistics services offer. With new customers for the logistics business now onboarded we are seeing strong growth in demand for services.”
The company also said it is looking at potential investment opportunities in order to maintain its healthy revenue growth.
Ferry impressive: Saudi ports, warehouse operator enjoys strong Q1 growth
https://arab.news/vk5zs
Ferry impressive: Saudi ports, warehouse operator enjoys strong Q1 growth
- The logistics, ports and services division of the business also saw strong growth
Saudi Arabia ranks 2nd globally in digital government, World Bank 2025 index shows
WASHINGTON: Saudi Arabia has achieved a historic milestone by securing second place worldwide in the 2025 GovTech Maturity Index released by the World Bank.
The announcement was made on Thursday during a press conference in Washington, DC, which evaluated 197 countries.
The Kingdom excelled across all sub-indicators, earning a 99.64 percent overall score and placing it in the “Very Advanced” category.
It achieved a score of 99.92 percent in the Core Government Systems Index, 99.90 percent in the Public Service Delivery Index, 99.30 percent in the Digital Citizen Engagement Index, and 99.50 percent in the Government Digital Transformation Enablers Index, reflecting some of the highest global scores.
This includes outstanding performance in digital infrastructure, core government systems, digital service delivery, and citizen engagement, among the highest globally.
Ahmed bin Mohammed Al-Suwaiyan, governor of the Digital Government Authority, attributed this achievement to the unwavering support of the Saudi leadership, strong intergovernmental collaboration, and effective public-private partnerships.
He highlighted national efforts over recent years to re-engineer government services and build an advanced digital infrastructure, which enabled Saudi Arabia to reach this global standing.
Al-Suwaiyan emphasized that the Digital Government Authority continues to drive innovation and enhance the quality of digital services, in line with Saudi Vision 2030, supporting the national economy and consolidating the Kingdom’s transformation goals.
The 2025 GTMI data reflects Saudi Arabia’s excellence across key areas, including near-perfect scores in core government systems, public service delivery, digital citizen engagement, and government digital transformation enablers. This balanced performance places the Kingdom firmly in the “Grade A” classification for very advanced countries, demonstrating the maturity of its digital government ecosystem.
Saudi Arabia’s progress in the index has been remarkable: from 49th place in the 2020 edition, to third in 2022, and now second in 2025, confirming its status as a global leader in digital transformation and innovation.
The achievement also reflects the Kingdom’s focus on putting people at the center of digital transformation, enhancing user experience, improving government efficiency, and integrating artificial intelligence and emerging technologies across public services.
