Saudi Arabia, UK to enhance cooperation in space economy

Saudi Arabia and the United Kingdom plan on working together to enhance cooperation between the two countries in the field of space economy, according to a joint statement.

A meeting took place recently between Chairman of the Board of Directors of the Saudi Space Commission (SSC), Eng. Abdullah Amer Al-Sawaha and British Secretary of State for Business, Energy and Industrial Strategy Kwasi Kwarteng.

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During the meeting, according to the Saudi Press Agency, the two sides stressed the importance of stimulating the participation of the two countries' private sector in the area of space economy and promoting investment in developing human capabilities.

Both sides also discussed cooperation in the field of the development of human capabilities in the space sector.

Gulf Saudi Arabia to invest $2.1 bln for space program by 2030 

“This visit comes within the framework of the SSC's endeavor to build effective international partnerships in this field so as to enhance the Commission's role and support its steps towards achieving its strategic goals for the Saudi space sector, which represents a national priority, and to contribute to the Kingdom’s transformation towards an innovation-based and space economy, in addition to stimulating investment, opening new markets that would be a source of economic diversification and the creation of new jobs and achieving leadership positions for the Kingdom to be driven by qualitative achievements in the fields of space economy,” the Saudi Press Agency reported.

“Moreover, the Kingdom seeks for making the space sector as a major contributor to its prosperity and leadership as well as achieving the Kingdom’s Vision 2030 through the development and organization of the sector and the provision of enablers to achieve pioneering achievements to be reflected in the local economy, creating new sectors and markets,” SPA added.

Last October, Saudi Arabia announced plans for an 8 billion riyals ($2.1 billion) boost for its space program by 2030 under an economic diversification plan that aims to attract foreign investment and create thousands of jobs for young Saudis.

The Saudi Space Commission (SSC), set up by a royal decree in late 2018 to stimulate space-related research and industrial activities, has finalized a plan for the government, expected to be revealed later this year, under which the sector’s budget would receive an initial boost of 2 billion riyals.