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Saudi Arabia, China Sign MoU to Develop Air Transport Cooperation

The MoU was signed during the visit to China of Saudi officials as part of ongoing cooperation between the two countries in air transportation. SPA
The MoU was signed during the visit to China of Saudi officials as part of ongoing cooperation between the two countries in air transportation. SPA
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Saudi Arabia, China Sign MoU to Develop Air Transport Cooperation

The MoU was signed during the visit to China of Saudi officials as part of ongoing cooperation between the two countries in air transportation. SPA
The MoU was signed during the visit to China of Saudi officials as part of ongoing cooperation between the two countries in air transportation. SPA

General Authority of Civil Aviation (GACA) President Abdulaziz bin Abdullah Al-Dauilej on Thursday signed a memorandum of understanding (MoU) in the field of air transportation with Civil Aviation Administration of China Administrator Song Zhiyong.
The MoU was signed during the visit to China of Saudi civil-aviation officials as part of the ongoing cooperation between the two countries in the air transportation sector.
The areas of cooperation outlined in the MoU include expanding the number of air transportation stops, promoting air traffic, and developing and regulating frameworks for cooperation in the field of transportation and air freight between the two nations.
The MoU also includes an initial consensus to update the existing agreement between the Kingdom and China in this field, with the aim of enhancing global connectivity in line with Saudi Vision 2030 and the Saudi Aviation Strategy.
These efforts seek to enhance trade exchange and stimulate economic growth between the two countries.

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Local Content in Saudi Government Projects Rises to 47% by Q3

Al-Falih said that local content policies are integral to the state’s strategy. (SPA)
Al-Falih said that local content policies are integral to the state’s strategy. (SPA)
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Local Content in Saudi Government Projects Rises to 47% by Q3

Al-Falih said that local content policies are integral to the state’s strategy. (SPA)
Al-Falih said that local content policies are integral to the state’s strategy. (SPA)

The proportion of local content in Saudi government projects has grown significantly, rising from 33% in 2020 to approximately 47% by the end of the third quarter of this year. This progress was announced by Minister of Industry and Mineral Resources Bandar Al-Khorayef during a ministerial session titled, Future Trends in Light of Vision 2030, at the second edition of the Local Content Forum 2024.

Tourism Minister Ahmed Al-Khateeb emphasized that tourism is a cornerstone of Vision 2030, stating: “We aim to localize investment spending with the support of national institutions.”

He also outlined plans to increase the tourism sector’s contribution to the national economy from 3% in 2019 to 10%.

Al-Khateeb underscored the collaborative efforts underway with the private sector to develop the tourism industry.

For his part, Investment Minister Khalid Al-Falih highlighted that local content policies have been integral to the state’s strategy since its founding. He stressed that enhancing the competitiveness of local companies plays a vital role in advancing localization efforts.

Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail stated that increasing local content is part of a long-term plan, noting that 70% of home construction technologies are now manufactured locally.

In turn, Economy and Planning Minister Faisal Al-Ibrahim explained that boosting local content helps drive economic growth. He emphasized that import substitution presents a valuable opportunity to support domestic products and balance trade.