102 agreements worth SR75 billion unveiled on the second day of Saudi Arabia's Future Aviation Forum
GACA signed numerous agreements for air transport services with various countries
The second day of the Future Aviation Forum 2024, organized by the General Authority of Civil Aviation (GACA) in Riyadh, saw the signing of 102 memoranda of understanding (MoUs), agreements, and deals, with a total value of over SR75 billion ($20 billion).
The forum continued for the second day with the participation of over 30 ministers, 77 leaders of civil aviation authorities, CEOs of airlines worldwide, and 7,000 aviation industry experts and leaders from more than 120 countries.
The forum focused on human capabilities, the future of the sector, collaboration opportunities, civil aviation organization networks, sustainability, innovation, technology, and business opportunities within the sector.
The GACA launched the first edition of the Kingdom's aviation sector report, highlighting the sector's contribution to the Kingdom's economy, amounting to $53 billion and providing 958,000 jobs. The GACA also hosted the first aviation investment exhibition aimed at facilitating investment in the Saudi aviation sector.
On the second day of the forum, the GACA signed numerous agreements for air transport services with countries such as Kiribati, Grenada, Malawi, Romania, Belize, Kiribati, Sao Tome and Principe, Lithuania, El Salvador, Albania, and Uzbekistan.
These agreements added to those signed on the first day, which included countries like Mozambique, Eswatini, Cambodia, and Brunei Darussalam.
The Future Aviation Forum concludes on Wednesday with its third day, continuing to present investment empowerment opportunities in the Saudi aviation sector, valued at $100 billion. The sessions will also delve into discussions on growth, investment, airports, air connectivity, supply chain management, resilience, human capital, and sustainability.