The new brand of Dammam Airport Company (DACO) was launched on Wednesday. The firm made public its objectives, in preparation for the privatization of Dammam-based King Fahad International Airport (KFIA), and its transference into a wholly-owned subsidiary of the Civil Aviation Holding Company, an affiliate of the General Authority of Civil Aviation (GACA), in early July.
KFIA Director-General Turki bin Abdullah Al-Jawini said, “Air transport has played, through time, an important role in the economic, social and cultural development in the eastern region, highlighting, in particular, KFIA’s significant role, since it has been laid into commission in 1999.”
The geographical advantage, he added, is a basic resource for the development of the whole region, as air transport provides the region’s citizens with employment opportunities through job creation and stimulating the movement of the national economy, trade and investment.
“The ambitious Saudi Vision 2030 has significantly contributed to defining the company’s core objectives, within the program of privatization of KFIA in Dammam,” Al-Jawini said.
The three-goal plan aims at enhancing airport infrastructure, adding new passenger baggage management systems and comprehensive development of the airport’s other facilities, such as improving the runways as a priority, providing all segments of travelers with a comfortable environment through commercial and recreational services, and finally, investing in local youth.
The plan aims to support local youth through training initiatives and suitable jobs.
Al-Jawini said DACO will raise the operational capacity and business-oriented efficiency of KFIA, making it state-of-the-art, with the addition of new passenger halls, runways and offices for various airlines.
He praised the efforts of Eastern Province Gov. Prince Saud bin Naif, and Minister of Transport and GACA Chairman Suleiman bin Abdullah Al-Hamdan.
The ceremony was attended by various government officials, businessmen, airport executives and representatives of several airlines.
KFIA was established in 1999, during the reign of King Fahd.
DACO lays ground for privatization of Dammam airport
DACO lays ground for privatization of Dammam airport
25,000 attend Social Development Bank’s DeveGO25 forum
The Social Development Bank concluded the second edition of the Entrepreneurship and Modern Business Practices Forum — DeveGo 2025 — announcing the achievement of high-impact outcomes that further reinforced the forum’s position as the largest national platform in the region dedicated to entrepreneurship, innovation, and freelance work in Saudi Arabia and beyond.
The forum witnessed broad participation from local and international experts, investors, entrepreneurs, and representatives of local, regional, and international institutions.
Over three days at the King Abdulaziz International Conference Center, the forum drew 25,000 participants and visitors, who benefited from over 45 specialized workshops and over 2500 advisory sessions delivered by more than 70 consultants and experts.
The sessions covered key areas including entrepreneurial planning, business models, venture capital, digital platforms, freelancing, and emerging technologies.
The forum also featured 20 panel discussions with leading local and international speakers, addressing major global trends in entrepreneurship, including the future of artificial intelligence, the creative economy, digital transformation, and venture investment.
The forum saw the launch of the Saudi Empretec Fellowship, in the presence of Rebeca Grynspan, secretary-general of the UN Conference on Trade and Development.
The partners in success within the Social Responsibility Portfolio supporting entrepreneurs were honored.
It also saw the honoring of 13 winners of the Handicrafts Competition, representing various regions of the Kingdom, the announcement of winners of the Salam Award for Promising Projects, and the recognition of leading entrepreneurial projects fund under the Enterprises Track.
In addition, the NEXT UP Challenge concluded on the third day of the forum with 20 startups presenting their projects to more than 500 investors, enhancing opportunities for networking and partnership building.
As part of efforts to strengthen the support ecosystem, the forum witnessed the signing of 51 agreements, along with the launch of a suite of new financing products. These included the Capital Expansion Product with a ceiling of up to SR10 million, the Payroll Product with a ceiling of SR2 million, and the Rental Product with a ceiling of SR1.5 million, aimed at supporting enterprises in asset development and covering operational costs.
This reflects the bank’s direction toward offering more specialized financing tools that respond effectively to market needs.
The forum concluded by reaffirming its role as a unifying national platform for entrepreneurship, where accompanying activities and events provided direct engagement opportunities between entrepreneurs, investors, and experts.
The forum also highlighted success stories and practical experiences that reflect the scale of entrepreneurial momentum in the Kingdom and the growing role of the Social Development Bank in supporting a national economy driven by innovation and knowledge.
