Saudi Arab plans to add 8 billion riyals ($2.1 billion) to its space program by 2030 as part of an economic diversification the plan aimed at attracting foreign investment and creating thousands of jobs for young Saudis.
The Saudi Space Commission (SSC), which issued a
royal decree in late 2018 to encourage space-related research and industrial
activities have finalized the plan for the government, which is expected This
will be done at the end of this year, under which the budget of this sector
will be obtained. Initial promotion of 2 billion riyals.
"At the moment in which we live, space is
becoming a core part of the global economy, touching every aspect of our lives
on Earth. The space business and the space economy are expected to become
trillions of riyals as we move forward." Sultan, the son of Prince Saudi
King Salman, told Reuters in an interview.
"We believe there are many opportunities in
the space sector and we intend to use these opportunities at all levels in
Saudi Arabia," added Shahi, 64, aboard the US space shuttle Discovery.
1985. He was the first astronaut in space from an Arab or Muslim country.
His responsibilities as a payload specialist on
the Discovery ship included the release of the Arababad satellite, a
breakthrough in connecting the region to the rest of the world.
Saudi Arabia is a founding founder and financier
of the Arab Satellite Communication Organization (Arababad), which began in
1976 with a 37% stake.
Prince Sultan, who has headed the Saudi
Commission for Tourism and Heritage for 18 years, said the kingdom aspires to
be a global player in the space industry while promoting the potential of
generations of Saudis.
The return on current investment of the Saudi
space sector is 1.81 riyals, which is invested’ in each riyal. According to SSC
data, it competes with the return of 7 to 20 riyals per riyal invested in the
sector in developed economies.
Without elaborating, Prince Sultan said the SSC
plans to sign agreements with international agencies in the United States,
Russia, China, India, and the United Arab Emirates to enhance cooperation.
($ 1 = 3.7503 riyals)
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