2019 Global Aviation Summit opens in Riyadh

Saudi Minister of Transport Dr. Nabeel Al-Amudi signs an air service agreement between GACA and the Ministry of Transportation and Communication of Cyprus. (AN photo by Abdulaziz Alaquil)
Updated 02 April 2019

2019 Global Aviation Summit opens in Riyadh

  • Civil aviation sector in the Kingdom generates an estimated $126 billion in revenues annually
  • Investment deals proposed at the GAS could see thousands of jobs created, and would raise the Kingdom’s global ranking in the Logistics Performance Index from 49 to 25

RIYADH: The General Authority of Civil Aviation (GACA) hosted the opening of the 2019 Global Aviation Summit (GAS), a two-day international forum, at the Ritz-Carlton hotel in Riyadh on Monday.
In his opening address, Saudi Minister of Transport Dr. Nabeel Al-Amoudi discussed the value of the industry to the Kingdom, stating that civil aviation generated an estimated $126 billion annually, as well as providing 527,000 jobs.
He also discussed the recent accidents involving two Boeing 737 MAX aircraft, saying there were no immediate plans to allow the model to operate in Saudi airspace. “There were no 737 MAX aircraft flying in the Kingdom at the time,” he said, “and there aren’t plans for them to fly again in the near future.” Boeing’s top-selling MAX jet was grounded globally last month after two fatal crashes in Indonesia and Ethiopia.
Boeing’s senior managing director for commercial marketing, Darren Hulst, gave a keynote address where he discussed the Kingdom’s peculiarly opportune position in the global aviation industry.
“Saudi Arabia is unique, both as a strategic location and a destination, through pilgrimage and the Hajj and Umrah sector, and growing tourism opportunities,” he said.
“There is also the whole economic industry that comes along with aviation. Boeing has been a part of building that industry here in the last few decades, with various partnerships and joint ventures, and we are continuing to accelerate those investments.”
The history of civil aviation in Saudi Arabia effectively began in 1945, when a twin-engine Dakota DC-3 was gifted to King Abdul Aziz by US President Franklin D. Roosevelt. It was the first aircraft to land in the Kingdom, and it marked the beginning of Boeing’s relationship with the country.
“When we think about where we are today and where we can be as an industry in the next decade, the opportunities are limitless,” Hulst continued. “When you take into consideration the number of airplanes to support, the number of people to train, and the value of goods and services produced, we think this country has a unique advantage. In general, aviation growth has always doubled in relation to economic growth. Here in Saudi Arabia, though, because of all of its advantages, we see a fourfold multiplier effect. Boeing looks forward to being a part of it.”
The GACA’s media spokesman, Ibrahim Al-Rosa, said: “We are hosting over 150 high-profile individuals, including the heads of the world’s largest aviation companies. The GACA has long believed in the importance of this industry, its development and progress, which includes investment opportunities and the ushering in of a promising young generation of men and women.”
Female GACA employees also spoke at length about their roles and experience in the aviation industry. At the “Women in Aviation” panel discussion, Haifa Hamedaldean, transformation project manager for the Saudi Air Navigation Services (SANS), discussed the roles women now hold in aviation.
“I’m delighted to represent SANS as a vehicle for female empowerment in the aviation industry,” Hamedaldean said. “SANS not only attracts women in administrative roles, but also in operational ones. In little over a year, SANS has grown the number of women employed from zero to 38. You’ll find them in strategy, management, engineering and information technology. You’ll see them in human resources, in training and recruitment. Eleven of our women serve as air-traffic controllers and we are expecting 15 more to join us by the end of this year.”
As Saudi Arabia continues to diversify its economy, the civil aviation industry represents a key pillar in that change, given the country’s location as a global logistical hub. Investment deals proposed at the GAS could see thousands of jobs created, and would raise the Kingdom’s global ranking in the Logistics Performance Index from 49 to 25. Direct foreign investment, currently at 3.8 percent, would rise to 5.7 percent of the gross domestic product. At the GAS, a memorandum of understanding was signed between the Kingdom and Argentina on air transport cooperation, while agreements were also signed with Georgia and Chad, in addition to an air service agreement between the GACA and the Cypriot government.

High-level investment forum aims to further boost business between Saudi Arabia and Japan

Updated 18 June 2019

High-level investment forum aims to further boost business between Saudi Arabia and Japan

  • Japan is one of Saudi Arabia’s most important economic partners

TOKYO: More than 300 government, investment and industry leaders on Monday took part in a high-level gathering aimed at further boosting business opportunities between Saudi Arabia and Japan.

The Saudi Arabian General Investment Authority (SAGIA) welcomed key figures from the public and private sectors to the Saudi-Japan Vision 2030 Business Forum, held in Tokyo.

Hosted in partnership with the Japan External Trade Organization (JETRO), the conference focused on the creation of investment opportunities in strategic sectors of the Kingdom. Delegates also discussed key reforms currently underway to enable easier market access for foreign companies.

Speaking at the event, Saudi Economy and Planning Minister Mohammed Al-Tuwaijri, said: “Today’s forum is a testimony to the success of the strategic direction set by the Saudi-Japanese Vision 2030 two years ago, which seeks to drive private-sector involvement, both by partnering with public-sector entities.”

SAGIA Gov. Ibrahim Al-Omar said: “At SAGIA, we have been working on creating a more attractive and favorable business environment in Saudi Arabia, which is making it easier for foreign companies to access opportunities in the Kingdom.”

Japan is one of Saudi Arabia’s most important economic partners. It is the Kingdom’s second-largest source of foreign capital and third-biggest trading partner, with total trade exceeding $39 billion.

JETRO president, Yasushi Akahoshi, said: “Saudi-Japan Vision 2030 has made great progress since it was first announced. Under this strategic initiative, the number of cooperative projects between our two countries has nearly doubled, from 31 to 61, and represents a diverse range of sectors and stakeholders.”

Since 2016, the Saudi government has delivered 45 percent of more than 500 planned reforms, including the introduction of 100 percent foreign ownership rights, enhancing legal infrastructure and offering greater protection for shareholders.

As a result, the Kingdom has climbed international competitiveness and ease-of-doing-business rankings, with foreign direct investment inflows increasing by 127 percent in 2018 and the number of new companies entering Saudi Arabia rising by 70 percent on a year-on-year basis in the first quarter of 2019.