China’s COMAC Seeks to Enter Saudi Aviation Market

A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)
A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)
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China’s COMAC Seeks to Enter Saudi Aviation Market

A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)
A model of a Chinese-made COMAC (C919) aircraft at the company’s pavilion at the Future Aviation Forum in Riyadh. (Photo: Turky Al-Agili)

Chinese aircraft manufacturer COMAC, which launched its first international flights in February, expressed its desire to enter the Saudi aviation market and contribute to supporting the country’s ambition to be a global aviation hub.

COMAC Chairman He Dongfeng stressed that the COMAC cargo aircraft can connect Saudi Arabia with markets in the region, as well as in North Africa and neighboring Asian countries.

Speaking during a panel discussion, “A special conversation with the Commercial Aircraft Company about future growth plans and current trends,” on the second day of the Future Aviation Forum, he said that the Chinese government-owned company is working according to a comprehensive three-year strategy that aims to reduce carbon emissions.

COMAC, which was established in 2008, launched its first ever commercial flights during the month of May 2023, and then announced its intention to produce 150 C919 aircraft annually within five years, adding that it has already obtained more than 1,200 orders from local companies.

The C919 aircraft carries less than 200 passengers, and is the first locally manufactured passenger aircraft of this size. The Chinese company said that it began developing the airplane 15 years ago, to compete with the narrow-body Airbus A320neo and Boeing 737 aircraft.

COMAC began its first production lines at a time when the two giants of the aircraft industry, Boeing and Airbus, are facing challenges related to meeting the delivery of aircraft on time, and others related to the shortage of supplies of engines and semiconductors.



UAE's GDP Grew by 3.6% in First Half of 2024

The value of the UAE's real GDP in the first half of 2024  recorded a notable increase of 3.6 percent
The value of the UAE's real GDP in the first half of 2024 recorded a notable increase of 3.6 percent
TT

UAE's GDP Grew by 3.6% in First Half of 2024

The value of the UAE's real GDP in the first half of 2024  recorded a notable increase of 3.6 percent
The value of the UAE's real GDP in the first half of 2024 recorded a notable increase of 3.6 percent

Minister of Economy Abdulla bin Touq Al Marri has said that the preliminary estimates of the UAE's GDP in the first half of 2024, issued by the Federal Competitiveness and Statistics Center, reflect remarkable economic growth and competitiveness, solidifying the country's position as a leading economic power for business and investment.

He explained that the value of the UAE's real GDP (at constant prices) reached AED879.6 billion in the first half of 2024, recording a notable increase of 3.6 percent. Meanwhile, the value of the non-oil GDP during the same period was approximately AED660 billion, with a growth of 4.4 percent, compared to the same period last year. With this, the contribution of non-oil sectors to the country's GDP has reached 75 percent.

The estimates also indicated that the UAE's nominal GDP (at current prices) during the first half of 2024 reached approximately AED981 billion, registering a growth rate of 5.6 percent. Meanwhile, the value of non-oil GDP at current prices during the same period rose to about AED749 billion, with a growth rate reaching 6.8 percent, compared to the first half of 2023.

"The UAE has successfully laid the foundation for a sustainable, diversified economy driven by innovation and knowledge, aligning with global trends while maintaining its position as a premier economic hub regionally and internationally,” Bin Touq said.

"This progress paves the way for achieving the economic goals outlined in 'We the UAE 2031' vision, including raising the UAE's GDP to AED3 trillion within the next decade."