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Saudi Arabia’s NSG: Kingdom Has What It Takes to Become Regional Hub for Space Technologies

A view of Earth from space. (Asharq Al-Awsat)
A view of Earth from space. (Asharq Al-Awsat)
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Saudi Arabia’s NSG: Kingdom Has What It Takes to Become Regional Hub for Space Technologies

A view of Earth from space. (Asharq Al-Awsat)
A view of Earth from space. (Asharq Al-Awsat)

Saudi Arabia is setting the foundation for a sovereign and integrated space economy, according to Martjin Blanken, CEO of Neo Space Group (NSG), a company backed by the Public Investment Fund (PIF).

In an interview with Asharq Al-Awsat, Blanken emphasized that strategic investment in space infrastructure and technology is not a luxury, but a prerequisite for achieving the Kingdom’s long-term goals in this critical sector.

Riyadh, he noted, possesses all the necessary assets to emerge as the leading regional center for space technologies.

Blanken underscored that Saudi Arabia is not merely building a new economic sector, but is redefining the concept of national sovereignty in a rapidly digitizing world. In this new era, satellite systems and geospatial data have become strategic assets, much like oil pipelines were in the 20th century.

The Kingdom’s new vision extends beyond being a user or consumer of space technologies, aiming instead for full empowerment through technology acquisition, industrial localization, and the development of domestic talent in the space sector.

NSG is focused on establishing what it calls “sovereign digital infrastructure,” ensuring Saudi Arabia has comprehensive capabilities in satellite communications, Earth observation, and navigation services. This would secure technological autonomy and position the country as an industrial leader within the region.

According to the 2025 report from the Communications, Space, and Technology Commission, Saudi Arabia’s space economy is projected to grow from $8.7 billion in 2024 to $31.6 billion by 2035, with a compound annual growth rate of 12 percent. The space services and infrastructure market alone is expected to expand from $1.9 billion to $5.6 billion during the same period.

Blanken attributed this growth to strong government backing, particularly through PIF, which has invested in both domestic and international platforms across a range of activities including satellite services, remote sensing, and data analytics.

He likened this phase of space investment to the early days of the Kingdom’s oil, industrial, and tourism sectors, long-term decisions that reshaped the national economy.

What sets the space sector apart in Saudi Arabia is its wide range of applications across various industries. Rather than being a standalone technical domain, it serves as an enabling platform for other sectors. Remote sensing technologies are now integral to smart agriculture and water resource management, while satellite navigation systems improve supply chains and logistics operations.

Blanken also highlighted the strategic importance of space in supporting national security. In sectors such as oil, mining, and defense, space technologies contribute to geological surveying, border monitoring, secure communications, and disaster response. As such, space has evolved into a core infrastructure for national security, economic growth, and environmental governance.

Saudi Arabia’s approach is to transform the space sector from a research-driven initiative into a robust economic engine. This aligns with Vision 2030, which prioritizes economic diversification and technological independence.

NSG, as the first national space company supported by PIF, plays a multifaceted role in service development, industrial localization, and talent cultivation. The group recently joined the industrial collaboration program at King Abdullah University of Science and Technology (KAUST), becoming the first space company to do so, a move that reinforces its commitment to R&D and training Saudi professionals.

NSG is working to localize four key pillars of the space sector: satellite communications for aviation and broadband; Earth observation through local imaging and data platforms; navigation and positioning via the development of SBAS and GNSS systems for domestic applications; and a venture capital fund to support space startups.

Strategic partnerships with international firms such as SES, Esri, G&S SatCom, and SuperMap also include clear provisions for technology transfer and the establishment of research centers within Saudi Arabia. The aim is not just to consume imported technologies, but to develop them locally and empower Saudi engineers to lead.

The Kingdom is also expanding its reach across regional markets in civil aviation, defense, agriculture, and geospatial services. NSG recently secured a license from the national space regulator to provide Earth observation services across the Middle East.

Blanken said that upcoming projects include the outfitting of Thai Airways aircraft with satellite connectivity and the commercial launch of satellite-based IoT services in partnership with OQ Technology by the end of the same year.

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Aljadaan: Emerging Markets Account for 70% of Global Growth

Al-Jadaan speaking to the attendees at the "AlUla Conference for Emerging Market Economies" (Asharq Al-Awsat
Al-Jadaan speaking to the attendees at the "AlUla Conference for Emerging Market Economies" (Asharq Al-Awsat
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Aljadaan: Emerging Markets Account for 70% of Global Growth

Al-Jadaan speaking to the attendees at the "AlUla Conference for Emerging Market Economies" (Asharq Al-Awsat
Al-Jadaan speaking to the attendees at the "AlUla Conference for Emerging Market Economies" (Asharq Al-Awsat

Saudi Minister of Finance Mohammed Aljadaan stressed Sunday that the world economy is going through a “profound transition,” saying emerging markets and developing economies now account for nearly 60 percent of the global Gross Domestic Product (GDP) in purchasing power terms and over 70 percent of global growth.

In his opening remarks at the AlUla Conference for Emerging Market Economies, organized by the Saudi Ministry of Finance and the IMF in AlUla, the minister said these economies have become an increasingly important driver of global growth with their share of global economy more than doubling since 2010.

“Today, the 10 emerging economies in the G20 alone account for more than half of the world growth. Yet, they face a more complex and fragmented environment, elevated debt levels, slower trade growth and increasing exposure to geopolitical shocks.”

“Unfortunately, more than half of low income countries are either in or at the risk of debt distress. At the same time global trade growth has slowed at around half of what it was pre the pandemic,” Aljadaan added.

The Finance Minister stressed that the Saudi experience over the past decade has reinforced three lessons that may be relevant to the discussions at the two-day conference, which brings together a select group of ministers and central bank governors, leaders of international organizations, leading investors and academics.

“First, macroeconomic stability is not the enemy of growth. It is actually the foundation,” he said.

“Structural reforms deliver results only when institutions deliver. So there is no point of reforming ... if the institutions are unable to deliver,” he stated.

Finally, he said that “international cooperation matters more, not less, in a fragmented world.”

Business

Georgieva from AlUla: Growth Still Lacks Pre-pandemic Levels

Kristalina Georgieva speaking to attendees at the second edition of the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat)
Kristalina Georgieva speaking to attendees at the second edition of the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat)
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Georgieva from AlUla: Growth Still Lacks Pre-pandemic Levels

Kristalina Georgieva speaking to attendees at the second edition of the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat)
Kristalina Georgieva speaking to attendees at the second edition of the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat)

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said Sunday that world growth still lacks pre-pandemic levels, expressing concern as she expected more shocks amid high spending and rising debt levels in many countries.

Georgieva spoke at the AlUla Conference for Emerging Market Economies, organized by the Saudi Ministry of Finance and the IMF in AlUla.

The two-day conference brings together a select group of ministers and central bank governors, leaders of international organizations, leading investors and academics to deliberate on policies to global stability, prosperity, and multilateral collaboration.

Georgieva said that the conference was launched last year in recognition of the growing role of emerging market economies in a world of sweeping transformations.

“I came out of this gathering .... With a sense of hope for the pragmatic attitude and determination to pursue good policies and build strong institutions,” she said.

Georgieva stressed that “good policies pay off,” and said that growth rates across emerging economies reached four percent this year, exceeding by a large margin those of advanced economies that are around 1.5 percent.

Business

Saudi Arabia’s flynas, Syrian Civil Aviation Authority Partner to Launch 'flynas Syria'

The new airline will operate commercial air transport services in accordance with approved regulations and standards (flynas)
The new airline will operate commercial air transport services in accordance with approved regulations and standards (flynas)
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Saudi Arabia’s flynas, Syrian Civil Aviation Authority Partner to Launch 'flynas Syria'

The new airline will operate commercial air transport services in accordance with approved regulations and standards (flynas)
The new airline will operate commercial air transport services in accordance with approved regulations and standards (flynas)

Saudi budget carrier flynas has signed an agreement with the Syrian General Authority of Civil Aviation and Air Transport to establish a new commercial airline under the name "flynas Syria," with operations scheduled to begin in the fourth quarter of 2026.

Saturday’s agreement comes within the framework of bilateral cooperation between Saudi Arabia and Syria, as well as the strategic investment agreements between the two countries, coordinated with the Saudi Ministry of Investment and the Syrian General Authority of Civil Aviation and Air Transport.

The new airline will operate commercial air transport services in accordance with approved regulations and standards, meeting the highest safety and aviation security requirements. All licensing and operational procedures will be completed in coordination with the relevant authorities.

The carrier will be established as a joint venture, with 51% ownership held by the Syrian General Authority of Civil Aviation and Air Transport and 49% by flynas.

The new airline will operate flights to several destinations across the Middle East, Africa, and Europe. This expansion aims to bolster air traffic to and from Syria, enhance regional and international connectivity, and meet growing demand for air travel.

"This step is part of our commitment to supporting high-quality cross-border investments. The aviation sector is a key enabler of economic development, and the establishment of 'flynas Syria' serves as a model for constructive investment cooperation,” said Saudi Minister of Investment Khalid Al-Falih.

“This partnership enhances economic integration and market connectivity and supports development goals by advancing air transport infrastructure, ultimately serving the mutual interests of both nations and promoting regional economic stability,” he added.

President of the Syrian General Authority of Civil Aviation and Air Transport Omar Hosari also stated that the establishment of flynas Syria represents a strategic step within a comprehensive national vision aimed at rebuilding and developing Syria's civil aviation sector on modern economic and regulatory foundations.

“This will be achieved while balancing safety requirements, operational sustainability, investment stimulation, and passenger services. The partnership reflects the state's orientation toward smart cooperation models with trusted regional partners, ensuring the transfer of expertise, the development of national capabilities, and the enhancement of Syria's air connectivity with regional and international destinations, in line with global best practices in the air transport industry."

flynas Chairman Ayed Al-Jeaid stated that the company continues to pursue strategies aimed at growth and international expansion, describing the agreement as a historic milestone in the company's journey and a promising investment model in partnership with Syria.

flynas CEO Bander Al-mohanna said the step represents a qualitative leap in the company's strategy and financial performance, highlighting the transfer of the company's low-cost aviation experience to the Syrian market to support regional and international air connectivity.

flynas currently operates 23 weekly flights from Riyadh, Jeddah, and Dammam to Damascus, including two daily direct flights from Riyadh, one daily flight from Jeddah, and two weekly flights from Dammam.

The airline made history on June 5, 2025, by adding the Syrian capital to its network, becoming the first Saudi carrier to resume scheduled flights to Damascus.