Aviation among the key sectors in Saudi economy that will see investment boost
Aviation is among the key sectors in Saudi economy that will see
investment boost under Vision 2030.
According to S&P Global Ratings, “Aviation will be one of
the biggest winners from growth in international, regional, and domestic
tourism”.
The oil-rich kingdom plans to develop railroads, expand existing
airports with a focus on Riyadh and Jeddah, and launch the new Riyadh
International Airlines (RIA) at the end of the year that will complement
existing carriers Saudia, flynas and flyadeal, S&P said.
The “material” funding needs will need to be partly addressed by
the government, but private funding will also be important, it said. Some $100
billion has already been allocated to foster Saudi aviation.
Other key sectors include tourism, energy, real estate, digital
infrastructure, food and agriculture, healthcare, telecoms, and utilities.
Riyadh is striving to diversify the country's oil-dependent
economy, create jobs for Saudi citizens, draw high-skilled talent and attract
investment to the kingdom.
Vision 2030 has led to significant project announcements across
various sectors to accelerate the diversification of the economy.
Source: https://www.thenationalnews.com/