Saudi Arabia to Lead Middle East Countries in Sustainable Space Sector Development

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Saudi Arabia to Lead Middle East Countries in Sustainable Space Sector Development

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

As the Saudi space strategy approaches its launch, expectations for investment in the space sector are growing, with an industry expert predicting that the anticipated budget may be comparable to major space economies.

Moreover, Riyadh is expected to lead the way in creating a competitive and regulatory environment with an innovative approach driven by the public sector, which will support the growth of the regional ecosystem.

Growth Predictions

Phil Malem, CEO of Serco Middle East, estimated the global space industry to be worth more than $400 billion, with expectations of it growing to over a trillion dollars by 2040.

Investments should support the entire value chain of the space ecosystem, from launch to satellite manufacturing within the country, operations, ground segment, and end data services, Malem emphasized.

Speaking to Asharq Al-Awsat, Malem stated that creating the full value chain for the space ecosystem will maximize all relevant industry sectors, such as space exploration, robotics, space science, Earth observation, Satcom, and space sustainability.

Saudi Leadership

According to Malem, Saudi Arabia’s ambitious plans for the country and the region will position it as a global player with a significant impact on space sustainability, leading the Middle East region in this field.

Malem expected that both public and private investments would back the formation of international partnerships in the region and create a local ecosystem. This includes the Saudi Space Accelerator Program, which was introduced by the Saudi Space Commission in 2023.

The program aims to aid startups and entrepreneurs in developing innovative space solutions within the Kingdom while simplifying knowledge transfer, technology, and training.

Malem stressed the importance of strengthening top training programs for operational services through various global space services for professionals in multiple locations, agencies, and public space institutions, such as engineers, operators, and analysts.

This is necessary to enhance the entire space value chain from satellite design and spacecraft operations to data processing and management, explained Malem.

Economic Diversification

Malem forecasted that Saudi Arabia would experience exponential growth in the space sector as part of its economic diversification plans in the region.

He anticipated that space would be a top priority under the direction of Crown Prince Mohammed bin Salman, who serves as the chairman of the Council of Economic and Development Affairs and leads the Supreme Space Council.

The potential for the space sector to impact all economic sectors through services enabled by space data is significant, highlighted Malem.

Since 2018, the Saudi space sector has made big strides in creating a competitive and accessible environment.

Malem noted efforts had been made to enhance the Kingdom’s strategy and achieve incredible accomplishments in human spaceflight missions, including plans to launch Saudi astronauts this year.

Serious Mobilization

Riyadh has taken significant steps toward the sector, affirmed Malem, adding that Saudi Arabia has filled positions with qualified professionals from the global space industry over the past year.

According to Malem, the Kingdom adopted a policy of attracting the best talent to help shape the space sector’s long-term growth, drive, and sustainability.

Saudi Arabia’s space sector will prioritize both economic expansion and the development of its national workforce, said Malem.

The sector aims to position the Kingdom as a leading country in the field of space, he added, noting that this effort presents significant opportunities for building a skilled and confident local workforce capable of implementing the space program and supporting the revitalization of national visions.

Serco’s Plan

Serco’s action plan includes collaborating with local academic, industrial, and public sector organizations to design, develop, and provide training, revealed Malem.

He added that the aim is to prepare Saudi citizens with the abilities, knowledge, and experience required to tackle long-term growth challenges in the regional space sector.



Türkiye's Recent Political Events Hit Economy, Reserves, Says EBRD 

Owners of a "bufe", a Turkish word to call small corner restaurants with a couple of stools outside or inside, wait for customers at Uskudar neighborhood in Istanbul, Türkiye, April 23, 2025. (Reuters)
Owners of a "bufe", a Turkish word to call small corner restaurants with a couple of stools outside or inside, wait for customers at Uskudar neighborhood in Istanbul, Türkiye, April 23, 2025. (Reuters)
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Türkiye's Recent Political Events Hit Economy, Reserves, Says EBRD 

Owners of a "bufe", a Turkish word to call small corner restaurants with a couple of stools outside or inside, wait for customers at Uskudar neighborhood in Istanbul, Türkiye, April 23, 2025. (Reuters)
Owners of a "bufe", a Turkish word to call small corner restaurants with a couple of stools outside or inside, wait for customers at Uskudar neighborhood in Istanbul, Türkiye, April 23, 2025. (Reuters)

Recent political events in Türkiye stymied the country's path to slowing inflation and the fallout affected the economy as well as foreign exchange reserves, the European Bank for Reconstruction and Development's chief economist said.

The detention of Istanbul mayor and main opposition leader Ekrem Imamoglu on March 19 sent the lira sharply lower and triggered market turmoil that pushed the central bank into a surprise interest rate hike in April, short circuiting an easing cycle that began at the start of the year.

Türkiye had been on a "slow but steady" path towards reducing inflation before the event, EBRD Chief Economist Beata Javorcik told Reuters.

"This path allowed it to cut interest rates, but that process was stopped by the recent political events, which brought turbulence and forced the central bank to reverse the direction," Javorcik said, adding raising interest rates put the brakes on the economy.

"This is costly in terms of economic performance, in terms of reserves ... and in terms of the reputational implications, undermining confidence of investors."

Türkiye has struggled with very high inflation in recent years, which peaked at 75% last May.

The bank downgraded its forecast for Türkiye’s economic growth this year by 0.5 percentage points to 2.8%, due to lower domestic and external demand and tighter-than-expected monetary policy.

Türkiye’s bonds and stock market had become a big draw for global money managers in the months leading up to Imamoglu's detention.

The appointment of Finance Minister Mehmet Simsek in 2023, widely seen as the architect of the government's return to a more orthodox economic policy, helped lure investors.

The EBRD said Türkiye’s central bank sold more than $40 billion in foreign exchange in the weeks following Imamoglu's arrest, pulling net reserves, excluding swaps, from more than $60 billion to less than $20 billion.

The latest reserve numbers, published on Monday, showed that Türkiye’s gross reserves had risen by $6 billion - the first such gain in nearly two months.