Arab News, Mon, May 20, 2024 | Dhu al-Qadah 12, 1445
Sky’s the limit: Saudi Arabia’s Future Aviation Forum 2024 will help fuel Kingdom’s Vision 2030
Saudi Arabia:
Aviation leaders and key figures from across the globe will convene in Riyadh
for the Future Aviation Forum 2024, a three-day event highlighting the strides
in global air travel innovation, coinciding with Saudi Arabia’s ambition to
generate $100 billion from the sector by 2030.
The event, centered on the theme “Elevating Global
Connectivity,” will unite more than 5,000 experts and leaders in aviation from
over 100 countries, including ministers, regulators, and manufacturers, as well
as representatives from airlines and airports.
Led by the General Authority of Civil Aviation,
the event is set to take place from May 20 to 22 and will highlight various
projects and incentives aimed at attracting investments into Saudi Arabia’s
rapidly growing aerospace sector.
This includes investment projects across areas
such as airports, airlines, and ground services, as well as cargo, and
logistics, which will be highlighted on the sidelines of the forum’s Investment
Showcase.
The $100 billion in opportunities includes more
than $50 billion earmarked for airports, around $40 billion for new aircraft
orders, and $10 billion allocated to other projects.
Building on the success of the 2022 edition, which
witnessed the signing of over 50 agreements and deals totaling $2.7 billion,
this year’s forum will showcase commercial announcements alongside roadmap
presentations and specialized panel sessions focusing on general aviation.
Minister for Transport and Logistics Services
Saleh Al-Jasser will inaugurate FAF24 and said: “Saudi Arabia is offering
unparalleled aviation investment opportunities globally. The Saudi Aviation
Strategy aims to triple passenger numbers, connect to over 250 destinations, and
manage 330 million passengers and 4.5 million tonnes of cargo by 2030.”
The Investment Showcase at the forum will be
inaugurated by the Minister of Investment Khaled Al-Falih.
“Saudi Arabia is the world’s new investment hub,
targeting $3.3 trillion in investment by 2030. Aviation is a key investment
sector and enabler of the Kingdom’s broader economic transformation,” Al-Falih
said, according to a press release.
He added: “The aviation investment showcase will
provide investors with unparalleled access to participate in the Kingdom’s
transformation.”
The showcase will include investor briefings,
meetings, and panels on major projects including the massive six-runway King
Salman International Airport in Riyadh and public-private partnerships for the
Abha, Taif, Hail and Qassim international airports.
It will also feature opportunities in cargo and
logistics, advanced air mobility, and business aviation. Aviation suppliers will
be briefed on expansion plans for the new airline Riyadh Air, as well as leading
regional airlines including Saudia, Flynas, and Flyadeal.
The main sponsors of the forum include Saudia
Group, Matarat, King Salman International Airport, and Saudi Air Navigation
Services.
Global aviation executives from companies
including Boeing, Airbus, Commercial Aircraft Corp. of China, and Embraer will
also attend the event.
Additionally, GACA is set to unveil a General
Aviation roadmap setting how to increase the sector’s contribution to Saudi
Arabia’s gross domestic product tenfold to $2 billion by 2030.
The plan covers the business jet segment,
including charter, private, and corporate aircraft, and will support Saudi
Arabia’s development as a global high-value business and tourist destination.
The new roadmap comes after Saudi Arabia revised
its 2030 tourism target upwards from 100 to 150 million visitors in October
2023.
“The General Aviation roadmap will turbocharge the
sector within the Kingdom, transforming infrastructure and regulations,
simultaneously developing, promoting, and enhancing general aviation services in
the market,” said Abdulaziz-Al Duailej, president of GACA.
He added: “GACA looks forward to hosting general
aviation investors, operators, and service providers at the Future Aviation
Forum in May, where we will launch this ambitious plan to global audiences.”
The roadmap is designed to bolster private
aviation by facilitating infrastructure investments and streamlining regulations
for aircraft owners, lessors, investors, operators, and service providers.
This initiative comes after GACA’s decision to
eliminate ‘empty-leg restrictions’ and simplify economic license requirements
for operators and investors in October 2023, aimed at enhancing the general
aviation sector.
The event will also cover industry themes
including business, talent and the future, collaborations, and ecosystems, as
well as sustainability, innovation, and technology.
High-level speakers such as Fadi Al-Buhairan, CEO
of Special Integrated Logistics Zone, Gaith Al-Gaith, CEO of FlyDubai, and
Mohammed Al-Maghlouth, CEO of Matarat Holding, are set to participate in the
forum.
Suliman Al-Mazroua, CEO of the National Industrial
Development and Logistics Program, Bander Al-Mohanna, managing director and CEO
of Flynas, and Fahd Cynndy, CEO of Saudia Technic are also due to take part.
Following the opening remarks on the first day,
the panel titled “Ministerial Speech: Sky High Tourism – Unlocking Destinations
and Cultural Exchange Now and in the Future” will take place, followed by a
special conversation with Boeing and a spotlight session on the New Future of
Aviation.
The event will then highlight the future of
airports and logistics with the plenary sessions “Airports Council International
Special Address: Airports of the Future” and “Insight Piece: Navigating Tomorrow
– Customer Focus, Digitalization, and AI as Enablers for the Future.”
The first day will also address securing the
future of human capital in aviation with the sessions “Cargo and Logistics Town
Hall: An Era of Growth, Evolution, and Opportunity” and “Aviation Human Capital
Now and for the Future – Meeting Our Industry’s Most Critical Challenge.”
On the second following the key address, a
conversation session with Commercial Aircraft Corp. of China will take place
followed by a panel exploring what is the “Future of Sustainability in Aviation
and Tourism.”
It will then highlight a panel discussion on
“Privatization, Investment and Funding – The Evolving Financial and
Infrastructure Landscape,” which will then be followed by a conversation with
Embraer.
The second day will spotlight the future of civil
aviation with the sessions “Global Civil Aviation Spotlight: Tonga and Nepal,”
“Civil Aviation Authority Director General Panel: Aviation – Accelerating from
Economic Enabler to Sustainability Champion,” and an insight piece on “How Safe
Are Our Skies.”
The third day will feature interactive workshops
on assistance for aircraft accident victims and their families.