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Future Aviation Forum 2024 in Riyadh Highlights Global Investment Opportunities

The president of the International Civil Aviation Organization (ICAO) during their speech at the Future Aviation Forum 2024 in Riyadh (Asharq Al-Awsat)
The president of the International Civil Aviation Organization (ICAO) during their speech at the Future Aviation Forum 2024 in Riyadh (Asharq Al-Awsat)
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Future Aviation Forum 2024 in Riyadh Highlights Global Investment Opportunities

The president of the International Civil Aviation Organization (ICAO) during their speech at the Future Aviation Forum 2024 in Riyadh (Asharq Al-Awsat)
The president of the International Civil Aviation Organization (ICAO) during their speech at the Future Aviation Forum 2024 in Riyadh (Asharq Al-Awsat)

The third edition of the Future Aviation Forum 2024 has kicked off in Riyadh, welcoming more than 5,000 industry leaders from 120 nations. The event highlights investment opportunities worth over $100 billion in Saudi Arabia’s aviation sector.
Key announcements on the first day included Saudi Arabian Airlines (Saudia) signing its biggest deal ever with Airbus. Saudi Arabia also announced its cooperation with Boeing and Airbus to use locally produced aluminum and titanium in their planes, aiming to boost local manufacturing.
Additionally, plans for a new national airline to be launched later this year were revealed.
Saleh Al-Jasser, Minister of Transport and Logistics Services and Chairman of the General Authority of Civil Aviation (GACA), launched the three-day conference in Riyadh. The event brought together over 30 ministers, 77 civil aviation leaders, airline CEOs, and 5,000 aviation experts from around the world.
Al-Jasser pointed out the significant changes in Saudi Arabia’s aviation sector since the pandemic, with remarkable growth. He stressed the need for collaboration to tackle challenges.
He highlighted key achievements, including Saudi Arabia’s rise to the 13th position globally in air connectivity and a record-breaking 112 million passengers in 2023, a 26% increase from 2022.
Al-Jasser also mentioned the sector’s adoption of new economic regulations for airports and air transportation services.
The minister also shared updates on legislative improvements and expansion plans during a press conference on the forum’s sidelines. These changes cover economic regulations, agency services, and airspace management, all coordinated with relevant authorities.
He mentioned that the updates aim to meet targets set by the National Aviation Sector Strategy, including reaching 300 million passengers and 250 destinations.
Al-Jasser also discussed plans to build and expand airports, including King Salman International Airport in Riyadh, which aims to accommodate 100 million passengers by 2030.
Additionally, he highlighted Saudi Arabia’s sustainability efforts, such as the Saudi Green Initiative and the Middle East Green Initiative, targeting a 2% reduction in carbon footprint annually.
GACA President Abdulaziz bin Abdullah Al-Duailej stated that the first day of the forum witnessed great success, with numerous commercial deals, initiatives, and agreements aimed at enhancing global connectivity.
The agreements announced during the forum are a testament to the confidence in the growth and investment opportunities provided by the civil aviation sector in the Kingdom, reaffirming the Kingdom’s leading position in the global aviation sector.
Saudi Arabian Airlines (Saudia) entered a deal with Airbus to purchase 105 aircraft of the A320-Neo and A321-Neo models to expand and modernize its fleet, enhancing global air connectivity with various countries.
During the forum, the GACA also launched the first edition of the Kingdom's aviation sector report, which highlighted the civil aviation sector’s contribution to the Kingdom’s economy, amounting to $53 billion.
The GACA also issued a roadmap for general aviation, aiming to develop the business aviation and private aircraft sector in the Kingdom, with the goal of increasing its size tenfold by 2030.

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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA

The Saudi Export-Import Bank (Saudi EXIM) hosted the Berne Union's Country Risk Specialist Meeting, providing a platform for experts and thought leaders in risk management from the export credit community.
At the meeting, which took place from November 19 to 21 in Riyadh, the attendees exchanged best practices to better protect the industry amid shifting global dynamics.
According to a statement issued by the Saudi EXIM on Saturday, the event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions.
By strengthening institutional resilience, the industry is ready to turn global economic challenges into opportunities for economic prosperity, said the statement, adding that it played a crucial role in advancing global trade, strengthening international cooperation, and developing credit solutions that empower export activities while controlling risk, SPA reported.
According to the statement, discussions centered on critical risks impacting international trade and the global economy, such as debt sustainability and geopolitical tensions, along with innovative approaches to risk modelling. Participants also explored the global shifts in infrastructure, energy and critical minerals sectors, and were given an overview of Saudi Arabia's National Industrial Strategy, which focuses on economic diversification through investments, developing new sectors, and promoting local industries.
In his opening remarks, Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb said the meeting is an ideal platform to address risks impacting global economic decision making.
He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively."
He also said that "at Saudi EXIM, we place great emphasis on risk management. In alignment with the main objective of this meeting, I am pleased to announce the completion of our independent country risk model, which is supported by advanced modelling tools and machine learning. This model will provide country ratings and predictions of default risks. We look forward to collaborating with our partners in other export credit agencies to exchange knowledge and expertise, and to strengthening our risk management functions with greater responsibility and effectiveness."
Associate Director at Berne Union Eve Hall said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex. Our industry excels at understanding, quantifying and pricing these risks, and by bringing together this community of experts for technical exchange the Berne Union is able to help support the development of the industry as a whole. The initiatives announced by our colleagues at Saudi EXIM, making use of new technology in risk analysis, provide a fantastic example of where collaboration in this field can be effectively applied."
The statement disclosed that Saudi EXIM's membership in Berne represents a significant strategic step, and is consistent with the Kingdom's commitment to expanding collaboration and integration in the global economy.
This is achieved by building partnerships with leading institutions to address the challenges facing the export credit sector. It also aligns with the bank's goal of developing the export of national products and services through partnerships with national and international financial and funding organizations.
Berne Union works with global trade organizations to encourage the adoption of best practices in export credit insurance, and to cooperate in maintaining the stability of global trade.
Saudi EXIM, a development bank under the National Development Fund, contributes to diversifying the Kingdom's economic base by improving the efficiency of non-oil export ecosystems, bridging financial gaps, and minimizing export risks. This plays a role in helping the non-oil national economy grow, in line with Vision 2030.