Saudi Arabia to invest $100 million to boost aviation sector

Monday, December 4, 2023

Saudi Arabia is set to invest $100 million to fortify its aviation sector, aligning with its tourism initiatives and Vision 2030, as revealed by Abdulaziz Al-Duailej, the President of the General Authority of Civil Aviation (GACA). This significant investment, announced at the 15th International Conference on Air Services Negotiations in Riyadh, underscores the Kingdom’s commitment to becoming a major player in the global aviation landscape.

Al-Duailej outlined the comprehensive nature of the strategy, emphasizing the development and enhancement of various aviation sectors, including Saudi airlines, logistics services, cargo services, and other support services. The strategic injection of funds reflects Saudi Arabia’s determination to position itself as a leader in the aviation industry.

The President of the International Civil Aviation Organization, Salvatore Sciacchitano, commended Saudi Arabia’s strategic direction in the aviation sector, expressing pride in the Kingdom’s contributions to global development and success. The $100 million investment is poised to play a pivotal role in fostering global connectivity and economic growth.

Al-Duailej articulated the strategic goals of building an integrated airline network, designating Riyadh and Jeddah as strategic hubs. Plans include establishing international connections with 250 destinations by 2030, signaling a forward-looking approach to shaping the future of air travel.

Saudi Minister of Transport and Logistic Services, Saleh Al-Jasser, highlighted the impact of the civil aviation strategy, emphasizing its role in enhancing transportation, fostering relationships, facilitating trade, and opening doors to Arab tourism. Al-Jasser underscored the conference as evidence of a collective commitment to global integration through aviation.

The $100 million investment announcement serves as a cornerstone in Saudi Arabia’s journey to becoming a global aviation leader, aligning with the strategic initiatives outlined at the ICAN conference. The financial commitment and the overarching strategic vision reflect the Kingdom’s determination to shape the future of air travel and contribute significantly to the international aviation landscape. This investment will play a crucial role in furthering the Kingdom’s goals and solidifying its position as a key player in the global aviation industry.

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