Saudi Arabia Aims to Pump $100 Bn Investments for Aviation Reform

Saudi Arabia Aims to Pump $100 Bn Investments for Aviation Reform

The Saudi General Authority of Civil Aviation (GACA) announced the economic policy for the Kingdom’s aviation sector that seeks to attract $100 billion to raise air traffic services.

The GACA announced adopting three economic regulations for airports, ground handling services, and air cargo and air transport services, which will come into force on Oct. 30.

The statement noted that the economic policy aims to boost the operation of the Kingdom’s airports and improve the performance of national air carriers as part of the Authority’s efforts to transform the Kingdom into a transportation and cargo services global hub.

It also provides an infrastructure that stimulates competition, attracts foreign investment, achieves growth, and enables innovation in the aviation sector.

The measures align with the National Aviation Strategy enabling it to be the number one sector in the Middle East and contribute to diversifying sources of income.

- Investment environment

The economic policy and set of regulations issued by the Authority contribute to achieving the goals of the Aviation Strategy and stimulating the investment environment by raising the contribution of the transportation and logistics sector to the GDP to 10 percent.

It also helps create direct and indirect job opportunities and pumps investments worth up to $100 billion from the