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Laws & RegulationsThe Future Aviation Forum presents promising investment opportunities estimated at more than $100 billion
April 18, 2022
The Future Aviation Forum (FAF) organized by the General Authority of Civil Aviation (GACA) during the period from 8 - 10 of Shawwal 1443, corresponding to 9-11 May 2022. The Forum comes amid great investment opportunities in the aviation sector amounting to $100 billion by the year 2030.
The Forum, which will be attended by a number of transport ministers, heads of civil aviation authorities and specialists from international and regional organizations concerned with the civil aviation sector. They will gather to discuss investment opportunities in the aviation sector and highlight the possibility of promising investment opportunities and expanding in the aviation sector to achieve the sector's strategic vision to be a global aviation hub.
The Future Aviation Forum will focus during several specialized sessions on investment opportunities and the contribution of civil aviation to economic growth of the country. The sessions will focus on participants from the private sector and their perspective on investment opportunities in the field of aviation in the Kingdom of Saudi Arabia. This in addition to the three main axes of the Forum, which are "innovation, growth and sustainability as the main axes.", being an influential and driving force propelling the sector.
FAF achieves one of the objectives of the National Aviation Sector Strategy (NASS) emanating from the National Strategy Transport and Logistics national strategy to become an integrated and unique global Forum that provides huge investment opportunities. The Forum takes advantage of the Kingdom’s distinguished strategic location among the three continents of the world. This enhances its attractiveness to be a global logistics platform, for the Kingdom of Saudi Arabia to be a global aviation hub with investments of $100 billion by the year 2030. Furthermore, the establishment of a new mega airport in the capital city of Riyadh, in addition to eight other airports distributed around the Kingdom. This includes four airports in partnership with the private sector, in addition to the launching of a new national flag carrier, all to enhance the air transport industry in the Kingdom. Meanwhile, the strategic vision of the Civil Aviation Authority aims to double the capacity and reach 330 million passengers, from more than 250 destinations from around the world, and reach 4.5 million tons of goods in air freight.
FAF provides the opportunity to participate in the world of aviation in the Kingdom amid unprecedented opportunities, after the rapid developments witnessed by the sector to be a center for global aviation and the most prominent in the Middle East. This in addition to encouraging the closing of commercial deals and unifying global efforts to develop the air transport industry. Further, formulate policies and regulations to keep pace with global developments and changes.
The Forum aims to find solutions that contribute to the prosperity of the civil aviation sector in the coming years, especially since the phase the sector is going through necessitates the importance of activating global cooperation in civil aviation and enable collaborative work to support the realization of ambitions and innovation and the development of necessary policies to ensure a promising future for the sector. Everything is looking forward for FAF to be a forum of senior industry leaders gathering point at the Capital city of Riyadh.
It is worth noting that the FAF will be launched in the presence of top representatives of the civil aviation sector from around the world and high-level civil aviation leaders from various countries and organizations as well as CEOs of a number of international air transport companies and a group of businessmen, with the participation of more than 120 speakers, in 40 sessions that will be held over a span of three days to discuss the future of aviation.
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