RIYADH: Saudi Arabia is aiming to obtain an investment of $100 billion in the aviation sector by the end of this decade, Saudi Minister of Transport Saleh Al-Jasser told the inaugural ceremony of the Future Aviation Forum.
Speaking in the event in Riyadh, the minister talked of the Kingdom's “great aviation reform” which is aimed at turning the nation into the Middle East’s hub for the sector.
He added added the Saudi Arabian government has ambitious plans to launch a new national carrier which it hopes could emerge as one of the best in the world in the coming years.
“We will also launch an additional national carrier to be among the world’s best airlines and we will upgrade all our facilities, infrastructure, and airports led by our hubs namely Riyadh and Jeddah,” said Al-Jasser.
He went on to say that the Kingdom aims to host 300 million passengers, and five million tons of freight reaching 250 destinations by 2030.
Reflecting on the impact of the COVID-19 outbreak, Al-Jasser described the aviation industry as being at a "crossroads", with short term challenges including energy prices, sustainably, growth, and competitiveness.
The pandemic also broke procedures that had been tested for many years, he argued.
Al-Jasser's ambitions were echoed by Raid Ismael, co-head of Middle East and North Africa direct investment at Saudi Arabia's Public Investment Fund.
Ismael said said aviation was a key sector that PIF is focused on as part of its strategy is to become an enabler to execute the Kingdom's Vision 2030.
He told the Forum: “From a commercial aviation perspective, there are lots of opportunities when it comes to the new carrier within Riyadh.
"The most important is the ecosystem that is around it. To have a solid ecosystem and a multiplier effect, to make sure we drive that into a leading hub within the region.”
Ismael added that the country has launched a helicopter company to enable tourism in the Giga projects — NEOM, The Red Sea Project and Amaala.
Talking about the vitality of the Future Aviation Forum, the minister added: “Through this forum, we can establish a strong global voice to contribute to the global wellbeing, sustainability and prosperity, and if we are successful, and I believe we will be, today will mark the start of a golden era for aviation.”
