Ashraf AboArafe
The Future of Aviation Conference (FAC) in its third edition, which is held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud – may God protect him – and organized by the General Authority of Civil Aviation during the period from May 20 to May 22, 2024, in Riyadh under the slogan “Enhancing the Level of Global Connectivity,” reviews… Investment opportunities worth more than $100 billion; With the aim of achieving the objectives of the Kingdom’s Vision 2030 to transform the Kingdom into a leading logistics center in the Middle East, and reaching the objectives of the National Aviation Strategy by providing an attractive investment environment in this vital and important sector.
The conference highlights the projects and incentives provided by the Kingdom to attract investment in the Saudi aviation sector, which has witnessed remarkable prosperity and development over the past few years, through airports, airlines, ground services, air freight, and logistics services.
The value of investment opportunities provided by the Kingdom’s airports amounts to more than $50 billion, out of a $100 billion value of investments in the aviation sector, while the value of new aircraft purchase orders is approximately $40 billion, while the remaining $10 billion is distributed among other projects, including $5 billion is the value of investments provided by the special logistics zones located at the three main airports in Riyadh, Jeddah, and Dammam.
The conference, in which more than 100 countries and more than 5,000 world aviation industry experts, leaders of global airlines, aviation authority officials in various countries, manufacturers and airport executives in participating countries participate, will also discuss several topics, the most prominent of which are: advanced air mobility, safety and security. Civil aviation, low carbon aviation fuels, digitalization of the aviation industry and artificial intelligence, shipping and logistics, global partnerships and innovation.
His Excellency the Minister of Transport and Logistics and Chairman of the Board of Directors of the General Authority of Civil Aviation, Engineer Saleh bin Nasser Al-Jasser, who is participating in the opening of the conference, said: “The Kingdom offers unparalleled investment opportunities in the field of aviation at the global level, as the National Aviation Strategy works to double the number of Passengers, connecting the Kingdom to more than 250 destinations around the world, and shipping 4.5 million tons of goods annually, by 2030.”
Engineer Al-Jasser explained that the conference will provide huge investment opportunities, taking advantage of the Kingdom’s distinctive strategic location between the three continents of the world. Which enhances its attractiveness as a global logistics platform. Thus achieving one of the objectives of the civil aviation sector strategy emanating from the National Strategy for Transport and Logistics Services, to become an integrated and unique global conference.
For his part, His Excellency the Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih, said: “Thanks to God Almighty, then under the guidance and support of our wise leadership – may God support it – and with the combined efforts of its people, the Kingdom has become, today, and within the framework of the Kingdom’s Vision 2030, one of the most important centers for new investment in the world.” It aims to attract investments worth three trillion and three hundred billion dollars by 2030 AD, indicating that the civil aviation sector is one of the main investment sectors, in addition to being a key enabling factor in the large-scale economic transformation and diversification plan in the Kingdom, pointing out that in this context The Future of Aviation Conference will provide unique opportunities for investors to be part of this transformation.
Al-Falih added: The Kingdom has launched several development and investment projects in all fields, including the inauguration of the private integrated logistics zone in Riyadh, which represents evidence of the achievement of one of the most important goals of the Kingdom’s Vision 2030, which is to create a solid, practical and effective partnership between the various sectors of the government and between institutions. Both the public and private sectors, to contribute, collectively, to enhancing the growth of the economy in the future.
The conference hosts a number of investors, and witnesses meetings and discussion panels on the major projects currently taking place in the Kingdom, including King Salman International Airport, and a discussion of partnerships between the public and private sectors in the airports of Abha, Taif, Hail, and Qassim. It also witnesses a review of investment opportunities in the fields of shipping and services. Logistics, advanced air transport, and general aviation, in addition to informing aviation sector suppliers about the expansion plans of Riyadh Airlines, and the leading regional airlines, including Saudi Airlines, Flynas, and Flyadeal.
The conference is expected to be attended by executives from major international companies, such as Boeing, Airbus, Commercial Aircraft Corporation of China Limited (COMAC), and Embraer, in addition to the participation of major investors and representatives of airlines, airports, shipping, logistics, and aviation services companies.
