Saudi Arabia Expands its Economic Capabilities to Space

A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)
A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)
TT

Saudi Arabia Expands its Economic Capabilities to Space

A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)
A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)

Saudi Arabia’s recent announcement that it was sending two Saudi astronauts to the International Space Station (ISS) has kicked off talks about the Kingdom’s serious endeavor to benefit from the space economy as a giant sector, where global visions of sustainability and technology intersect.

The astronauts will make their trip during the second quarter of 2023, in a first-of-its-kind move for the Kingdom.

Last year, the Saudi government decided to establish the Supreme Space Council in view of the strategic importance of the space sector, which represents the main engine to stimulate innovation and inspire future generations, according to a statement of the Communications, Space and Technology Commission (CSTC).

Saudi Minister of Communications and Information Technology Abdullah Alswaha said the efforts would focus on creating the space market and stimulating research and innovation, and then moving towards the stage of regulation and governance.

The authority will play a pivotal role in setting the adequate regulations, as well as coordinating and cooperating with space regulators at the global level and building relationships with industry stakeholders.

Capacity building

In September 2022, the Saudi Space Authority launched the Kingdom’s Astronaut Program, which aims to qualify experienced national cadres for long- and short-term space flights. The program also seeks to train Saudi astronauts to participate in scientific experiments, international research, and future space-related missions.

The program aims to take advantage of the promising opportunities offered by the space sector and its industries globally and to contribute to research to serve humanity in a number of priority areas, such as health, sustainability and space technology.

Last week, the Saudi Press Agency (SPA) reported that Saudi female and male astronauts Rayana Bernawi and Ali Al-Qarni will join the crew of the Axiom Mission 2 (or Ax-2), with the aim of building national capacities.

The space mission aims to empower capabilities of Saudi scientists in human spaceflight geared towards serving humanity and benefiting from the promising opportunities offered by the space industry.

SPA added that the journey would start from the United States to the ISS. The program includes two other astronauts Maryam Firdous and Ali Al-Ghamdi, who will be trained on all mission requirements, but not take part in the journey.

In 1985, Prince Sultan bin Salman bin Abdulaziz was the first Arab astronaut to participate in a space flight, which also launched from the United States.

NASA announcement

NASA announced that Bernawi and Al-Qarni will take off “in the spring of 2023” from the Kennedy Space Center in Florida, in the United States, on a private mission operated by Axiom Space.

The two Saudi astronauts will accompany Peggy Whitson and John Shoffner on the Ax-2 mission, a Crew Dragon flight set to launch no earlier than May 1, 2023, to the ISS.

Economic dimension

In previous remarks, Minister Alswaha emphasized the importance of the space sector as “the next trillion global economy”, saying that the establishment of Supreme Space Council was “an important step to stimulate innovation and inspire future generations for our beloved country.”

Observers have underscored the importance of the decision, which corresponds with the vision followed by Saudi Arabia in launching programs and projects that are compatible with its financial and human capabilities, to create complementary industries for this sector, and a specialized market in the world of space.

Space agreements

Saudi Arabia had earlier concluded many agreements and contracts, including the Artemis Accords with the NASA, to join the international coalition in the field of civil exploration and the use of the moon, Mars, comets and asteroids for peaceful purposes.

Government attention

Alswaha said the fact that Prince Mohammed bin Salman, Crown Prince and Prime Minister, was president of the Supreme Space Council was a clear message of the importance that the Kingdom places on the space sector.

The council will focus on three main axes: adopting policies and strategies for the sector’s programs, approving its annual plans and monitoring the implementation of its national strategy, and achieving compatibility with various sectors and national needs.

Saudi transformation

The decision to establish the Supreme Space Council came in line with the industrial and economic transformation in Saudi Arabia, based on the initial steps taken by the Saudi Space Authority since its establishment in 2018.

These moves have resulted in the conclusion of an agreement in mid-March with the British Space Agency for cooperation in the field of peaceful use of outer space, aimed at providing a framework for cooperation in space activities.

Saudi satellites

Between 2000 and 2019, the Kingdom launched 16 Saudi satellites into space under the supervision of the King Abdulaziz City for Science and Technology (KACST). The latest was the Saudi Communications Satellite (SGS1), which was launched on February 6, 2019, bearing the signature of Crown Prince Mohammed with the words, “Above the clouds.”

SGS1 works to serve the modern satellite communications sector, which includes broadband and secure military communications, as well as the provision of communications to semi-remote and stricken areas for use in various fields of sustainable development such as: applications (high-speed broadband communications, and secure communications for government agencies).

The satellite is operated and managed through advanced ground control stations in the Kingdom.

An international map

Dr. Faisal Al-Fadil, member of the Saudi Shura Council, said the decision to establish the Supreme Space Council is part of the moves taken by Saudi Arabia in all economic and social fields, which aim to place the Kingdom on the international map in science, economy and politics.

According to Al-Fadil, these three branches depend on two pillars: cadres and a clear strategy.

Twenty companies

The Saudi Space Authority is currently seeking to attract 20 emerging companies in the fields of space tourism, exploration, satellite communications and space photography.

The program will enable these companies to work and connect with world-class resources to enhance their chances of success, in partnership with Techstars, a global investment firm that provides access to capital, individual mentorship, a global network, and customized programming for early-stage entrepreneurs.

Space economy

According to Morgan Stanley’s 2018 report, the size of the space economy in the world is $360 billion. It is expected to reach $1.1 trillion in 2040 and $2.7 trillion by 2050.

The G20 countries account for the largest share, at about 92 percent.

The private sector

The private sector plays a pivotal role in the space industry. According to the latest statistics, the sector achieved huge revenues of $254 billion, through six main activities that included satellite communication services and applications by around 36 percent, chips and receivers for satellite navigation by 23 percent, as well as ground equipment and devices by 23 percent, and satellite manufacturing by 9 percent.

This is in addition to space applications and remote sensing, and services for launching vehicles and human space flights by about 5 percent for each activity.



Alkhorayef to Asharq Al-Awsat: Saudi Efforts Drive Mining Investment

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at a press conference in response to a question from Asharq Al-Awsat. (Asharq Al-Awsat)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at a press conference in response to a question from Asharq Al-Awsat. (Asharq Al-Awsat)
TT

Alkhorayef to Asharq Al-Awsat: Saudi Efforts Drive Mining Investment

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at a press conference in response to a question from Asharq Al-Awsat. (Asharq Al-Awsat)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at a press conference in response to a question from Asharq Al-Awsat. (Asharq Al-Awsat)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said on Tuesday the Kingdom is intensifying its efforts, through the Future Minerals Forum and by reshaping long-standing negative perceptions of the sector, to encourage investors worldwide to reassess the value of mining investments, particularly in Africa.

Speaking to Asharq Al-Awsat on the sidelines of the Riyadh forum, held under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz, Alkhorayef said that one of the biggest challenges facing the mining sector was the flow of investment.

This issue had been raised since the launch of the Future Minerals Forum and the roundtable initiative, he added.

The World Bank's participation in the Future Minerals Forum signaled the importance of finding solutions capable of supporting investment in the sector, he stressed.

Alkhorayef revealed that there were other initiatives aimed at supporting sectors complementary to mining, particularly logistics services, through government partnerships and support provided by international organizations, alongside banks and development funds.

The international ministerial meeting of ministers responsible for mining affairs was held on Tuesday as part of the Future Minerals Forum.

It is regarded as the world’s largest and most prominent government platform for discussing the future of the mining and minerals sector, with participation from over 100 countries, more than 70 international and non-governmental organizations, as well as business federations and leading global industry executives.

The meeting is following up on progress in the three ministerial initiatives, identifying upcoming work milestones, and cooperating on capacity building with international partners and skills development.

It will also launch the Future Minerals Framework as a scientific pathway to align visions and boost cooperation worldwide.


Saudi Arabia Urges Collective Action to Boost Mineral Supplies, Future Jobs

Representatives from 100 governments and 70 international organizations gathered on Tuesday to develop a roadmap for securing the flow of critical minerals the world needs to achieve its digital and green transitions. (Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef on X)
Representatives from 100 governments and 70 international organizations gathered on Tuesday to develop a roadmap for securing the flow of critical minerals the world needs to achieve its digital and green transitions. (Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef on X)
TT

Saudi Arabia Urges Collective Action to Boost Mineral Supplies, Future Jobs

Representatives from 100 governments and 70 international organizations gathered on Tuesday to develop a roadmap for securing the flow of critical minerals the world needs to achieve its digital and green transitions. (Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef on X)
Representatives from 100 governments and 70 international organizations gathered on Tuesday to develop a roadmap for securing the flow of critical minerals the world needs to achieve its digital and green transitions. (Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef on X)

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz, Riyadh has emerged as the “global capital of mining” by hosting the fifth ministerial roundtable of the Future Minerals Forum 2026.

The meeting was not merely a forum for discussion, but a platform to launch a new phase of international cooperation under the theme “Minerals: Meeting the Challenges of a New Era of Development.”

Representatives from 100 governments and 70 international organizations gathered on Tuesday to develop a roadmap for securing the flow of critical minerals the world needs to achieve its digital and green transitions.

The gathering marked a significant shift in collective action, reviewing progress since the launch of three initiatives in 2023 and urging governments to join the Future Minerals Framework.

The framework is not simply an agreement but a vital mechanism to strengthen partnerships between supplier and consumer countries, and to build an investment ecosystem capable of attracting public and private financing.

This momentum culminated in an announcement by Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef of the appointment of a permanent ministerial steering committee of 17 founding member states, selected to ensure geographic balance and representation of both supplier and consumer countries.

The committee will provide strategic guidance, oversee implementation of initiatives, and ensure the continuity of dialogue between major producing and consuming powers.

Ministerial guidance

Alkhorayef stated that achieving countries’ economic, industrial, and energy ambitions depends on the availability of secure and resilient mineral supplies, stressing that such supplies cannot be guaranteed without substantial investments and the adoption of innovative technologies, which require significant financing.

He said mineral resources are at the core of technologies driving electrification and digitalization, and form the foundation of industrial development and future jobs in both producing and consuming countries, making them a key driver of global growth.

Alkhorayef noted that joint work over the past five years had delivered progress beyond expectations, adding that details of these achievements were documented in a booklet provided to participants.

He cited cooperation with the World Bank to address the financing gap in mineral exploration and the elevation of infrastructure financing on the global agenda.

He said efforts also included leading a new dialogue focused on transparency and supply chain traceability, developing standards that reflect current realities, and establishing a network of centers of excellence to build capabilities in talent, sustainability, and technological empowerment.

These initiatives, he said, embody the roundtable’s goal of finding common ground on difficult issues, aligning supplier and consumer countries, and bringing governments, industry, and multilateral organizations under one roof.

The minister praised the participation of a large number of ministers and representatives, whether attending for the first time or regular participants, saying the turnout reflected the importance of joint international action.

He recalled that the first Future Minerals ministerial roundtable, hosted in 2022, brought together 32 countries and focused on what was then known as the “greater region,” encompassing Africa, West, and Central Asia.

Today, senior representatives from over 100 countries and 70 international organizations are participating.

Global development
The expanded participation came in response to requests from countries in other regions, such as Latin America, reflecting the global importance of the dialogue and participants’ ability to shape solutions, Alkhorayef added.

He pointed to growing interest from consuming countries in engaging in the discussion, noting that the table today brings together representation from all G20 countries alongside producers and consumers, underscoring that the right dialogue is taking place with the right parties at the right time and place.

This presence reflects a shared responsibility to shape a new era of global development, prosperity, and stability through the use of minerals, he remarked, emphasizing that minerals are the cornerstone of global development.

At the same time, the minister acknowledged challenges including slow project development, fragmented global policies, infrastructure gaps, financing constraints, and a lack of trust in the sector.

None of these challenges can be addressed individually, he explained, adding that genuine, well-designed cooperation among the countries gathered can make a difference.

Alkhorayef urged participants to use their shared time wisely, adopt a long-term mindset, and engage in frank, practical discussions that lead to a vital action agenda for the planet’s future, emphasizing that collective action is the foundation for securing the mineral supplies the world needs.

Supply chains

Saudi Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer reviewed progress made in 2025 across the three ministerial roundtable initiatives: developing an international framework to scale up infrastructure financing and align enabling government policies, building capabilities in emerging supply regions through a network of centers of excellence, and enhancing transparency of mineral supply chains through traceability.

He stated that the world requires more than $5 trillion to meet its energy needs by 2035, encompassing both electricity and infrastructure, noting that this capital requirement applies to over 20 mining companies amid significant financing challenges.

Al-Mudaifer spoke about developing the Global Mining Framework announced by Saudi Arabia last year to maximize value creation in supplier countries, stressing the importance of cooperation at the meeting to confront this major challenge and agree on key enablers to seize opportunities.

He outlined policies that support supply chain development, value creation for the sector, enabling infrastructure, responsible mining practices, skills development for a qualified workforce, the technology needed to make operations safer and more productive, and easier access to reliable geological data to attract investors and accelerate exploration.

Future minerals framework

He presented for discussion a draft of the Future Minerals Framework, which outlines principles and objectives and initiates a process to enhance cooperation between supplier and consumer countries to develop mineral supplies.

The framework aims to boost cooperation between producing and consuming countries by creating an inclusive, multi-stakeholder space that brings together decision-makers to discuss complex challenges and identify solutions to secure the minerals needed for development.

It seeks to attract investment to develop mineral value chains and infrastructure in the “super region” spanning Africa, West and Central Asia, and other supply regions, maximize regional mineral value chains, and drive local value creation through infrastructure financing and cross-border partnerships.

It aims to establish an attractive investment ecosystem for public and private financing, promote responsible supply through transparency and traceability, integrate sustainability priorities across all stages of mineral value chains, build capacities and policy frameworks, and empower emerging supplier countries to maximize the benefits of their mineral wealth.

The framework is based on voluntary participation, consensus-based decision-making, transparency, accountability, and fair benefit sharing, as well as adherence to international responsible sourcing frameworks and cooperation with industry, multilateral partners, and civil society.

The framework represents the culmination of work carried out by the Future Minerals Forum since 2023, with initiatives reaching a level of maturity that requires active state participation in implementation through an agreed structure and mechanism overseen by the steering committee.

It also allows for the integration of new initiatives adopted by the ministerial roundtable.

The World Bank Group presented a new minerals strategy focused on supporting countries in strengthening mineral development and value chains, from extraction and processing to regional manufacturing, to create greater local value and jobs.

The strategy is built on three pillars: policies, governance and institutions, core infrastructure, and private sector mobilization and innovation.

Participants welcomed the strategy and stressed the importance of the forum’s partnerships with multilateral organizations, including the World Bank Group, in developing innovative mechanisms to finance infrastructure that supports the resilience of global supply chains.

Voluntary standard

The voluntary standard will complement existing standards and draw on the forum’s sustainability framework, which is built on four priorities identified by countries: development, cooperation, capacity building, and performance.

The development of the voluntary standard is expected to take approximately two years, enabling countries to design legal, policy, and regulatory frameworks that enhance supply chain transparency and boost investor confidence.

The work will be coordinated through a sustainability center being established at Mohammed VI Polytechnic University in Morocco.

The sustainability center is one of the outcomes of the forum’s initiative to create a network of centers of excellence for capacity building in supply regions.

Participants praised the achievement and underscored its role in delivering tangible benefits to enhance mineral supply transparency, pledging to encourage national standards bodies in their countries to take part in the process.


Trump Set to Lead Largest-Ever US Delegation to World Economic Forum in Davos Next Week

This photograph shows a sign of the World Economic Forum (WEF) at the Congress center, during the WEF annual meeting in Davos on January 20, 2025. (AFP)
This photograph shows a sign of the World Economic Forum (WEF) at the Congress center, during the WEF annual meeting in Davos on January 20, 2025. (AFP)
TT

Trump Set to Lead Largest-Ever US Delegation to World Economic Forum in Davos Next Week

This photograph shows a sign of the World Economic Forum (WEF) at the Congress center, during the WEF annual meeting in Davos on January 20, 2025. (AFP)
This photograph shows a sign of the World Economic Forum (WEF) at the Congress center, during the WEF annual meeting in Davos on January 20, 2025. (AFP)

US President Donald Trump will return to the World Economic Forum's annual meeting of business, political and cultural elites in Davos, Switzerland next week, leading a record-large US delegation, organizers said Tuesday.

The Geneva-based think tank says Trump, whose assertive foreign policy on issues as diverse as Venezuela and Greenland in recent months has stirred concerns among US friends and foes alike, will be accompanied by five Cabinet secretaries and other top officials for the event running from Monday through Jan. 23.

A total of 850 CEOs and chairs of the world's top companies will be among the 3,000 participants from 130 countries expected in the Alpine resort this year, the forum says.

Forum President Borge Brende says six of seven G7 leaders — including Trump — will attend, as well as presidents Volodymyr Zelenskky of Ukraine, Ahmed al-Sharaa of Syria and others. A total of 64 heads of state or government are expected so far — also a record — though that number could increase before the start of the event, he said.

China's delegation will be headed by Vice Premier He Lifeng, Beijing's top trade official, Brende said.

The forum, which held its first annual meeting in 1971, has long been a hub of dialogue, debate and deal-making. Trump has already attended twice while president and was beamed in by video last year just days after being inaugurated for his second term.

Critics call it a venue for the world’s elites to hobnob and do business that sometimes comes at the expense of workers, the impoverished or people on the margins of society. The forum counters that its stated goal is “improving the state of the world” and insists many advocacy groups, academics and cultural leaders have an important role too.