RIYADH: Saudi Arabia hosted a session on the future of the space economy during the World Radiocommunication Conference (WRC-23), being a key player in harnessing space services and sustainability for humanity, Saudi Press Agency (SPA) reported on Tuesday.
International leaders in the space economy from both the public and private sectors attended the session.
The Governor of the Communications, Space and Technology Commission (CST), Dr. Mohammed bin Saud Al-Tamimi, highlighted investment opportunities in Saudi Arabia for space technologies. The space market exceeded US$400 million in 2022 in Saudi Arabia.
Future of Space Economy Session Highlights Saudi Arabia's Leadership Role in Harnessing Space Services and Sustainability for Humanity.https://t.co/Wm6p1fposn#SPAGOV pic.twitter.com/pePseCQk0l
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Saudi Arabia is expected to witness rapid growth of 87% in the coming years. Al-Tamimi revealed Kingdom’s efforts to boost space sustainability, double the contribution of the space sector to the global economy and build capabilities in satellite manufacturing.
Al-Tamimi stressed for developing a national workforce, supporting entrepreneurs, and enabling investment through advanced regulatory environments.
Saudi Arabia depends on its developmental programs, like the Space Entrepreneurship Alliance, the Human Spaceflight Program, and the Space Accelerator Program, to achieve its objectives.
