Saudi Arabia loosens airport regulation in $100b investment push

Saudi Arabia loosens airport regulation in $100b investment push

The regulations create an open, dynamic and competitive market, setting a level playing field for global operators and investors in the Kingdom - Abdulaziz Al-Duailej, President, General Authority of Civil Aviation

As part of Saudi Arabia’s bid to diversify income away from oil, it aims tourism to account for 10 per cent of gross domestic product by 2030 while transforming the country into a logistics hub. To help hit that target, the country aims to invest billions of dollars in airports and aircraft to boost transport links.

Saudi Arabia recently introduced a new airline, called Riyadh Air, which aims to bring more tourism to the country and provide a level of service and connectivity that equals regional champions Emirates and Qatar Airways. While Saudia, the main airline, has been around for decades, the carrier mainly serves local travellers and those focused on pilgrimage.

The aviation regulator has already fielded inquiries from potential investors in aviation assets, though the formal unveiling of the new plan will only accelerate interest, said Awad AlSulami, GACA’s executive vice president for economic policies and logistics services.