Saudi Arabia is set to showcase a massive investment initiative in its aviation industry, with plans to present opportunities totaling USD 100 billion at the upcoming Third Future Aviation Forum (FAF), scheduled for May 20-22.
More than half of this investment, upwards of USD 50 billion, is allocated for upgrading Saudi airports. Additionally, there is an anticipation for new aircraft orders by airlines, estimated to be around USD 40 billion, as reported by the Saudi Press Agency.
The remaining funds, approximately USD 10 billion, will be invested across various aviation-related endeavors, which includes USD 5 billion for specialized logistical zones at principal airports in Riyadh, Jeddah, and Dammam.
This investment drive is a part of the broader Saudi Vision 2030 initiative, aimed at transforming the nation into a key logistics center in the Middle East and to fulfill the objectives of the National Aviation Strategy. Taking place in Riyadh under the patronage of King Salman bin Abdulaziz Al-Saud, the FAF will center on the theme of Elevating Global Connectivity
.
The forum will bring attention to investment prospects in various segments of the industry, including airports, airlines, ground services, and logistics. It is set to convene experts and industry leaders from over 100 countries, encompassing more than 5,000 delegates.
Discussions at the forum will cover topics such as advanced air mobility, safety and security in aviation, sustainable fuels, digital transformation, and international collaborations in the sector.
The Saudi Minister of Transport and Logistic Services, Eng. Saleh Al-Jasser, pointed out the nation’s unique investment opportunities in aviation, including the goal to connect Saudi Arabia to over 250 destinations globally and to handle 4.5 million tons of cargo annually by 2030.
Al-Jasser also noted Saudi Arabia’s strategic geographical positioning as a nexus of three continents, bolstering its ambition to become a worldwide logistics hub.
The FAF will serve as a strategic platform to leverage this geographical advantage, in line with the civil aviation sector’s strategy to establish the Kingdom as an integrated global logistics center.
Eng. Khalid Al-Falih, the Minister of Investment, underscored Saudi Arabia’s determination to draw in USD 3.3 trillion in investments by 2030, with the aviation sector being a focal point in the nation’s economic diversification efforts.
The FAF offers a unique opportunity for investors to engage with the Kingdom’s transformation, emphasizing a conducive environment for investment that is competitive, transparent, and rich with incentives.
The forum also looks forward to discussing major ongoing projects, such as the King Salman International Airport, and exploring potential public-private partnerships for other regional airports.
Suppliers in the aviation sector can expect to learn about the expansion plans of key Saudi airlines, with leading global industry players like Boeing, Airbus, COMAC, and Embraer among the attendees.