Riyadh -  The Transport General Authority (TGA) announced today the opening of applications for companies wishing to join the business model for practicing maritime brokerage activity, during the period from May 5 to 20.

This initiative aims to unlock investment opportunities in the maritime sector and enable companies to enter this field, supporting the adoption of innovative business models that contribute to sector growth and enhance its competitiveness in the Kingdom.

The authority said that applying to the maritime brokerage business model enables qualified entities to operate within a regulatory sandbox under a framework that includes several activities, most notably mediating the sale and purchase of vessels, chartering, arranging contracts for the transport of goods or passengers by sea, and providing services through digital platforms.

The TGA clarified that joining the model requires applicants to meet a number of technical requirements, most notably holding a valid commercial registration, providing qualified personnel, obtaining professional indemnity insurance, and fulfilling other relevant requirements.

The launch of this model comes as part of the authority’s efforts to develop the maritime transport sector, contributing to improving service efficiency, enhancing reliability, strengthening sector competitiveness, and stimulating investment in maritime activities across the Kingdom.

This aligns with the objectives of the National Transport and Logistics Strategy and reinforces the Kingdom’s position as a global logistics hub.