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Saudi Aerospace Connect Forum Concludes with Strategic Deals, Key Announcements

Officials are seen at the Saudi Aerospace Connect Forum in Jeddah. (SPA)
Officials are seen at the Saudi Aerospace Connect Forum in Jeddah. (SPA)
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Saudi Aerospace Connect Forum Concludes with Strategic Deals, Key Announcements

Officials are seen at the Saudi Aerospace Connect Forum in Jeddah. (SPA)
Officials are seen at the Saudi Aerospace Connect Forum in Jeddah. (SPA)

The Saudi Aerospace Connect Forum, held under the patronage of Minister of Industry and Mineral Resources Bandar Alkhorayef, concluded on Tuesday with the signing of strategic agreements.

The forum was attended by General Authority of Civil Aviation (GACA) President Abdulaziz Al-Duailej and Vice Minister of Industry and Mineral Resources for Industrial Affairs Eng. Khalil bin Salamah.

Organized by the National Industrial Development Center (NIDC) in collaboration with the Ministry of Industry and Mineral Resources, the GACA, and Saudia Group, the forum took place February 24 and 25 in Jeddah.

The forum witnessed the signing of nine strategic memoranda of understanding (MoUs) with major global aviation companies, marking a significant step that reflects the Kingdom’s commitment to strengthening its position in the global aviation sector.

The forum saw the announcement of launching the Aviation Industries Cluster at Modon Oasis in Jeddah, aiming to localize advanced technologies and strengthen aviation sector supply chains.

Furthermore, announcements were made over the issuance of licenses for aircraft maintenance, repair, and overhaul (MRO) activities that will help in meeting both local and international market demands.

The forum boasted several panel discussions and a presentation of investment opportunities in Saudi Arabia's aviation sector, covering areas such as advanced aircraft component manufacturing, composite materials for aircraft structures, unmanned aerial systems (UAS) development and production, as well as titanium and advanced materials manufacturing.

The forum highlighted the role of these opportunities in boosting national security and creating high-quality jobs for Saudi citizens, reinforcing the Kingdom's economic position and aligning with its commitment to the Saudi Vision 2030.

The Kingdom will continue to foster innovation, support new investment opportunities, and build a sustainable aviation industry, ensuring its leading position in this vital sector.

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Saudi Arabia, IMF, World Bank Stress Int’l Commitment to Syria’s Economic Recovery

Saudi Finance Minister Mohammed Al-Jadaan, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, and World Bank Group (WBG) President Ajay Banga are seen at Friday's meeting. (SPA)
Saudi Finance Minister Mohammed Al-Jadaan, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, and World Bank Group (WBG) President Ajay Banga are seen at Friday's meeting. (SPA)
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Saudi Arabia, IMF, World Bank Stress Int’l Commitment to Syria’s Economic Recovery

Saudi Finance Minister Mohammed Al-Jadaan, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, and World Bank Group (WBG) President Ajay Banga are seen at Friday's meeting. (SPA)
Saudi Finance Minister Mohammed Al-Jadaan, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, and World Bank Group (WBG) President Ajay Banga are seen at Friday's meeting. (SPA)

Saudi Finance Minister Mohammed Al-Jadaan, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, and World Bank Group (WBG) President Ajay Banga stressed on Friday their commitment to Syria’s economic recovery.

Meeting on the sidelines of the 2025WBG/IMF spring meetings in Washington, they co-hosted a high-level roundtable for Syria, bringing together the Syrian authorities, finance ministers, and key stakeholders from multilateral and regional financial institutions, as well as economic and development partners.

“Building on earlier discussions – including at the Paris Conference on Syria (February 13), the AlUla roundtable on February 16 and Brussels IX conference (March 17) — this event provided a platform for the Syrian authorities to present their ongoing efforts to stabilize and rebuild their country, reduce poverty, and achieve long-term economic development,” they said in a joint statement.

“There was broad recognition of the urgent challenges facing the Syrian economy and a collective commitment to support the authorities' efforts for recovery and development. Priority will be given to efforts to meet the critical needs of the Syrian people, institutional rebuilding, capacity development, policy reforms, and the development of a national economic recovery strategy,” it added.

“The IMF and WBG were called upon to play a key role in providing support in line with their mandates and reflecting shareholders' support, in close coordination with multilateral and bilateral partners,” it continued.

“We welcome the efforts to help Syria reintegrate with the international community and unlock access to resources, to support the authorities' policy efforts, address early recovery and reconstruction needs, and promote private-sector development and job creation,” read the statement. “We also support the Syrian authorities' efforts to strengthen governance and increase transparency as they build effective institutions that deliver for the people of Syria.”

“We extend our gratitude to all participants for their valuable contributions and commitment to support efforts by the Syrian authorities to rebuild Syria and improve the lives of the Syrian people,” it stressed.

The officials will convene again at the annual meetings of the IMF and WBG in October 2025 to monitor the progress achieved and harmonize global efforts in advancing Syria's economic-recovery and prosperity.