Saudi Arabia is poised to unveil a comprehensive national strategy for space and establish a space company that will facilitate substantial government investment and private sector involvement in the sector, according to the Minister of Communications and Information Technology.
Addressing reporters during a press conference at LEAP, Abdullah Al-Swaha highlighted the Kingdom’s remarkable progress in space exploration and women’s empowerment initiatives.
After successfully sending the first Arab Muslim woman to the International Space Station, Al-Swaha revealed that Saudi Arabia is now embarking on the next phase of development in the space sector.
The forthcoming national strategy will focus on two key phases, with specifics to be disclosed in due course, Al-Swaha explained. The first phase, known as upstream, will concentrate on space exploration.
The second phase, referred to as downstream, will centre on three primary markets: space telecommunications, navigation, and carbon reduction through earth observation. Al-Swaha emphasized the significant opportunities in these areas, particularly in connecting the unconnected world and localizing navigation services.
Highlighting Saudi Arabia’s progress in women’s empowerment, Al-Swaha noted that the nation has become a “greatest success story” in this regard. The participation of women in technology and innovation has surged from 7 percent to 35 percent since the launch of Vision 2030, surpassing international benchmarks.
Al-Swaha credited this transformation to the visionary leadership of the crown prince and underscored the Kingdom’s momentum in advancing its digital economy. Saudi Arabia’s digital economy ranks among the ten fastest worldwide in terms of speed of advancement and volume of achievement, growing nearly 10 percent annually, outpacing the global average by threefold.
Moreover, Saudi Arabia has witnessed a significant increase in venture capital funding, experiencing a growth rate of 33 percent compared to the previous year. The telecommunications and technology markets have also flourished, exceeding growth projections and contributing to a historic achievement in economic expansion.
Al-Swaha’s remarks underscore Saudi Arabia’s commitment to leveraging technology and innovation to drive economic diversification and sustainable growth, positioning the Kingdom as a global leader in space exploration and digital innovation.
